The following information was obtained from the accounting records of Cool Limited for the year ended $28$ February $2022$:

$\backslash$table$[[,],[$Inventory $(1$ March $2021),149],[500],[$Sales$,750],[000],[$Purchases$,540],[000],[$Sales returns,$1500],[$Purchases returns,$2000],[$Freight charges on purchases,$650],[$Freight charges on sales,$1700],[$Settlement discount granted,$350],[\backslash$table$[[2022$ indicated that the value of the closing$],[$inventory on hand amounted to R$400000.]]],[$Required:$],[$alculate the gross profit$/$los$,]]$