Darius Lowe gives you the following information as at 31 March 2024: His mark-up is 40% on

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Darius Lowe gives you the following information as at 31 March 2024:

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His mark-up is 40% on ‘cost of goods sold’. His average inventory during the year was £14,000. Draw up an income statement for the year ending 31 March 2024 assuming his net profit amounts to 15% of his sales.

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