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Assume the following values and calculate the Gross Profit/Loss: * Purchases = Rs.550,000 Opening Inventory = Rs.150,000 Freight Inward = Rs.20,000 Closing Inventory = 200,000

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Assume the following values and calculate the Gross Profit/Loss: * Purchases = Rs.550,000 Opening Inventory = Rs.150,000 Freight Inward = Rs.20,000 Closing Inventory = 200,000 Return Outward = Rs.30,000 Net Sales = Rs.850,000

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