I. A retailer when fixing his selling price adds one-quarter to the cost of the article
II. The expenses of the retailer is 10% of his sales
III. The total sales is N23,000
IV. he turned over his stock five times in the year.
The net profit for the year is

Similar Questions

Issue of prospectus is an invitation to members of the public to   ...

Which of the following is correct about cost of goods sold? ...

Which of the following accounts would appear in the nominal ledger?  i. Sanison's account(...

On January 1/2005, a machine was bought for N56,000 to last for five years with a residual value of ...

To account for expenses paid by head office on behalf of the branch, the branch should ...

A petty cashier operates with an imprest of D1,000 per week. At the end of the week he had disbursed...

A petty cash account has an imprest of D28,000. The account has a debit balance of D5,000. How much ...

The advantage of double entry is that ...

A charitable club has the following figures: N Subscriptions received in 1991 2 800 Subscr...

Use the following information to answer the given question MANUFACTURING AND TRADING ACCOUNTS ...