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What is the gross profit for year end June

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Question - Use the following information from the records of Mooree Ltd. to determine the gross profit for the year ended 30 June 2019. Moore Ltd uses the periodic inventory system.

Purchases $ 117,120

Inventory, 1 july 2018 $9780

Inventory 30 june 2019 $13,130

Sales 171840

Freight Onwards 2885

Purchases returns and allowances 3156

Sales Returns and allowances 4440

Freight inwards 2270

Required - What is the gross profit for year end 30 June 2019?

Reference no: EM132633179

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