Opening stock Purchases Sales Closing Stocks |
₦ 20,000 70,000 100,000 15,000 |
What was the gross profit?
₦35,000
₦75,000
₦50,000
₦25,000
Correct answer is D
Gross profit = sales - cost of goods sold
100,000 - 75,000
⇒ ₦25,000
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