Use this information below to answer this question.
Trading Account (Extract)
……………..N………………………..N……
Opening stock…19500……..Sales…………96 000..
Add purchases…68700……………………………
…………….88200……………………………
Less closing stock..?……………………………
Cost of goods sold..?……………………………
Gross profit C/D….?……………………………
………………..?……………………..?……
The gross profit margin is 20%
What is the gross profit?
Trading Account (Extract)
……………..N………………………..N……
Opening stock…19500……..Sales…………96 000..
Add purchases…68700……………………………
…………….88200……………………………
Less closing stock..?……………………………
Cost of goods sold..?……………………………
Gross profit C/D….?……………………………
………………..?……………………..?……
The gross profit margin is 20%
What is the gross profit?
-
A.
N88 200 -
B.
N76 800 -
C.
N 19 200 -
D.
N12 900