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ABC Co undertook the following transactions during the year: • On 1 January they used the $10,000 they had in the bank to buy some inventory. • On 31 March the inventory was sold for $12,000. • In April inventory to the value of $3,000 was purchased on credit. • On 1 July the inventory was paid for. The indices of general price levels were:
What is the CPP profit (or loss) for the 6 months ended 30 June? (Calculate to the nearest $ and put a loss in brackets) $________ |