Use the following information from the records of Mooree Retail Ltd to determine gross profit for the year ended $30$ June $2023.$ Mooree Ltd uses the periodic inventory system

$

Purchases $117,120$

Inventory, $1$ July $20229,780$

Inventory, $30$ June $202313,130$

Sales $171,840$

Freight outwards $2,885$

Purchases returns and allowances $3,156$

Sales returns and allowances $4,440$

Freight inwards $2,270$

Gross profit for year ended $30$ June $2023$ is:

Question $6$Answer

a$.$

$$47816$

b$.$

$$54516$

c$.$

$$56786$

d$.$

$$60356$