Use the 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%
A. N88 200
B. N76 800
C. N 19 200
D. N12 900
Correct Answer:
Option A – N88 200
Veterinary medicine is the branch of medicine that deals with the prevention, diagnosis, and treatment…
Anthropology is the scientific study of human beings and their cultures. It encompasses a wide…
Sociology is the scientific study of human society, culture, and behavior. It examines the social…
Social Work is a profession dedicated to helping individuals, families, and communities to cope with…
Religious studies is an academic discipline that explores the beliefs, practices, and history of various…
Public administration is the field of study and practice that focuses on the organization and…