Solved: What was the stores gross profit percentage, Accounting Basics

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What was the stores gross profit percentage

Question:

Bad Boy Sporting Goods sells sports equipment retail.

Item    Amount
Inventory, April 1st       7500
Inventory, April 30th   6000
Purchases during April 12000

Sales Revenue            35000

Based upon the inventory, purchase and Sales Revenue, what was the store's gross profit percentage? Please describe the answer in detail.

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Accounting Basics: What was the stores gross profit percentage

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