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QUESTION FIVE The following information relates to PAT STORES with financial year end 28 February 2021: Sales Purchases Inventory (01/03/2020) Inventory (28/02/2021) Carriage on

QUESTION FIVE The following information relates to PAT STORES with financial year end 28 February 2021: Sales Purchases Inventory (01/03/2020) Inventory (28/02/2021) Carriage on sales 400 000 155 000 8 000 18 000 10 000 5 000 Railage on purchases Required: Calculate gross profit and gross profit percentage on sales for the year ended 28 February 2021. [1

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