Mathematics · Accounting Ratios and Gross Profit
Billy marks up his goods by 30% on cost. During the year ended 30 September 20X4, he purchased goods for $20,000 and increased his inventory holding by $5,000. What gross profit did Billy make for the year?
- 1$4,500✓
- 2$5,000
- 3$4,500
- 4$6,000
Correct answer
$4,500
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