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The following information relates to PAT STORES with financial year end 28 February 2020: Sales 400 000 Purchases 155 000 Inventory (01/03/2019) 8 000 Inventory

The following information relates to PAT STORES with financial year end 28 February 2020: Sales 400 000 Purchases 155 000 Inventory (01/03/2019) 8 000 Inventory (28/02/2020) 18 000 Carriage on sales 10 000 Railage on purchases 5 000 Required: Calculate gross profit and gross profit percentage on sales for the year ended 28 February 2020.

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