₦
Capital: Opening balance                     307,000
Closing balance                                    342,000
Net profit for the period                         121,600
Purchases                                             706,000
Carriage inwards                                     17,500
Cost of goods sold                                740,700
Total selling, general and          
administration expenses                        526,000
Discount received                                      9,650
Opening stock                                         98,800

What is the gross profit for the period?

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