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%
Determine the closing stock

Similar Questions

Which of the following is capital expenditure? ...

Williams and Jacob are in partnership but there is no partnership agreement. The capital contributed...

The difference between factory cost of goods produced and its market value is ...

When the purchase consideration exceeds the value of business, the difference is ...

\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hlin...

The authority of the Accountant General to disburse from government fund is called ...

When both debit and credit entries of a transaction are shown in the cash book, it is described as ...

Using the following information to answer the given question \(\begin{array}{c|c} Post & Gr...

Sales - #232,000 Opening stock - # 28,000 Purchases - #128,000 Carriage inwards - # 4,000 Carria...

Chibuike bought 36 notebooks at N10 each from John and was given a trade discount of 5%. In addition...