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REQUIRED Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023. (4 marks) INFORMATION The following balances/totals,

REQUIRED Use the information provided below to calculate the gross profit for the financial year ended 28 February 2023. (4 marks) 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: R Inventory (on 01 March 2022) 120 000 Sales 940 000 Sales returns 12 000 Purchases 680 000 Purchases returns 20 000 Carriage on purchases 15 000 Carriage on sales 22 000 Additional information Stocktaking on 28 February 2023 revealed an inventory figure of R222 000 at cost price

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