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During year ended 30 June 2012,Rugger Ltd had net sales of $256 000.Inventory at 1 July 2011 was $25 000,and at 30 June 2012 it was $18 000.Purchases were $115 000.What was the gross profit for year ended 30 June 2012?
Proportion
A fraction or percentage that indicates the part of a whole represented by a certain count or quantity.
Student T Distribution
A probability distribution used in statistical inference for datasets with small sample sizes and unknown population standard deviations.
Variance
A measure of the dispersion of a set of data points around their mean; the average of the squared differences from the Mean.
Degrees of Freedom
The number of independent values or quantities that can freely vary in the analysis of statistical calculations without violating any constraints.
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