Imran Limited has sales for the year ended 31 December 2019 of £747,000. The company allowed its customers discounts of £5,000 during the year. £3,000 of these discounts allowed were not taken up by customers who paid the full price for goods supplied. Inventory at 1 January 2019 was £22,500 while inventory at 31 December 2019 was £17,500. Purchases of goods during the year amounted to £425,000. Imran Limited's suppliers allowed bulk discounts of £11,000 to the company during the year. What is Imran Limited's gross profit % for the year ended 31 December 2019?

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The Answer of Imran Limited has sales for the year ended 31 December 2019 of £747,000. The company allowed its customers discounts of £5,000 during the year. £3,000 of these discounts allowed were not taken up by customers who paid the full price for goods supplied. Inventory at 1 January 2019 was £22,500 while inventory at 31 December 2019 was £17,500. Purchases of goods during the year amounted to £425,000. Imran Limited's suppliers allowed bulk discounts of £11,000 to the company during the year. What is Imran Limited's gross profit % for the year ended 31 December 2019?

Imran Limited Has Sales for the Year Ended 31 December