Accounting WAEC

What was the gross profit?

Use the following information to answer the question

Opening stock 40,000
Purchases 130,000
Closing stocks 32,000
sales 180,000

A. ₦8,000
B. ₦50,000
C. ₦42,000
D. ₦10,000

Correct Answer: Option C

C. ₦42,000

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