REQUIRED Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023. INFORMATION The following balances/totals, amongst others, appeared in the trial balance of Supra Stores on 28 February 2023, the end of the financial year. Inventory (on 01 March 2022) Sales Sales retums Purchases Purchases returns Carriage on purchases Carriage on sales Additional information Stocktaking on 28 February 2023 revealed an inventory figure of R222 000 at cost price. R 120 000 940 000 12 000 680 000 20 000 15 000 22 000
REQUIRED Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023. INFORMATION The following balances/totals, amongst others, appeared in the trial balance of Supra Stores on 28 February 2023, the end of the financial year. Inventory (on 01 March 2022) Sales Sales retums Purchases Purchases returns Carriage on purchases Carriage on sales Additional information Stocktaking on 28 February 2023 revealed an inventory figure of R222 000 at cost price. R 120 000 940 000 12 000 680 000 20 000 15 000 22 000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:REQUIRED
Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023.
INFORMATION
The following balances/totals, amongst others, appeared in the trial balance of Supra Stores on 28 February
2023, the end of the financial year.
Inventory (on 01 March 2022)
Sales
Sales retums
Purchases
Purchases returns
Carriage on purchases
Carriage on sales
Additional information
Stocktaking on 28 February 2023 revealed an inventory figure of R222 000 at cost price.
R
120 000
940 000
12 000
680 000
20 000
15 000
22 000
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