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in Accounts by (15 points)
compute the cost of goods sold and gross profit with the help of the following information.

purchase : 3,00,000

sales : 4,00,000

purchase return : 2,000

sales return : 3,000

wages : 50,000

carriage inwards : 10,000

salaries : 25,000

stock on (1/1/2017) : 60,000

stock on (31/12/2017) : 80,000

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