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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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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