iCMA 43

Suppose that over a period Brad recorded the following:

• Sales: 120,000
• Sales returns: 1,900
• Purchases: 75,000
• Purchase returns: 1,000
• Carriage inwards: 3,200
• Carriage outwards: 1,250

At the start of the period, his inventory was 38,300 and at the end of the period his inventory was 40,400.

Calculate Brads gross profit for the period.

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