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Question 9 (4 marks) The following information relates to the business of K Phiri for the year Purchases 16 000 Sales 20 000 Stock, 1

Question 9 (4 marks)

The following information relates to the business of K Phiri for the year

Purchases 16 000

Sales 20 000

Stock, 1 Jan, 4 000

Stock, 31 Dec. 6 000

Expenses 3 500

Calculate for each year the following:

a) Gross profit as a percentage of turnover (2 marks)

b) Net profit as a percentage of turnover (2 marks)

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