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Lee purchased some inventory at a cost of 100,000$ (excluding sales tax). It cost 3,000$ (excluding sales tax) to transport the inventory to Lee’s premises and he paid 10,000$ non-recoverable sales tax. In addition, when the inventory is sold it will cost Lee 1,000$ to deliver the item to his customer’s premises. Lee always make a large profit on his transactions and he always offers free delivery to his customers.
What is value of inventory?
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