Use this information below to answer this question
| ₦ | |
| Capital: Opening balance | 307,000 |
| Closing balance | 342,000 |
| Net profit for the period | 121,600 |
| Purchases | 706,000 |
| Carriage inwards | 17,500 |
| Cost of goods sold | 740,700 |
| Total selling, general and administration expenses | 526,000 |
| Discount received | 9,650 |
| Opening stock | 98,800 |
A. ₦535,650
B. ₦628,300
C. ₦647,600
D. ₦106,400
Correct Answer:
Option C = ₦647,600
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