Calculate cost of goods sold and gross profit

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Reference no: EM131386083

V. Fraga's business has a rate of inventory turnover of 8 times per year. Average inventory is £21,000. Mark-up is 30%. Expenses are 40% of gross profit.

You are to calculate:

(a) Cost of goods sold.

(b) Gross profit.

(d) Total expenses.

(e) Net profit.

Reference no: EM131386083

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