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Question - Suppose that over a period Brad recorded the following:
• Sales: £120,000
• Sales returns: £1,900
• Purchases: £75,000
• Purchase returns: £1,000
• Carriage inwards: £3,200
• Carriage outwards: £1,250
At the start of the period, his inventory was £38,300 and at the end of the period his inventory was £40,400.
Calculate Brad's gross profit for the period.
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