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Question - The following is an extract from the financial statements of Varume Limited for the year ended 31 October 2020:
2020 R
Revenue 1,200,000
Cost of sales 800,000
Inventories 400,000
Trade receivables 600,000
Required - What the gross profit margin for 2020?
A. 33.3%
B. 50%
C. 69.7%
D. 40%
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