The following totals appear in the day books for March 20X8.
$
Sales day book
40,000
Purchases day book
20,000
Returns inwards day book
2,000
Returns outward day book
4,000
Opening and closing inventories are both $3,000. What is the gross profit for March 20X8?
$________
The correct answer is: $22,000
Sales
Returns inwards
Opening inventory
Purchases
Returns outwards
Closing inventory
Gross profit
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