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Haan Inc: What were the total merchandise purchases

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Haan Inc. is a merchandising company. Last month the company's cost of goods sold was $67,300. The company's beginning merchandise inventory was $13,600 and its ending merchandise inventory was $16,800. What was the total amount of the company's merchandise purchases for the month?

a. $97,700
b. $67,300
c. $70,500
d. $64,100

Please select the correct answer and explain briefly why.

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