Use the information below to answer questions 23 and 24.
Incomplete Record (Extract)
Sales………………………………..N10,600
Rent………………………N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
What is the cost of goods sold?
Incomplete Record (Extract)
Sales………………………………..N10,600
Rent………………………N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
What is the cost of goods sold?
-
A.
N4 800 -
B.
N8 480 -
C.
N2 320 -
D.
N 9 900