Given: Sales ............................N195,200 Stock 1st January.................N34,000 Purchases ........................N126,000 Sales returns ....................N1,200 Purchases returns ................N2,000 If...
FINANCIAL
JAMB 2002
Given:
Sales ............................N195,200
Stock 1st January.................N34,000
Purchases ........................N126,000
Sales returns ....................N1,200
Purchases returns ................N2,000
If the gross profit is N66,000, what is the value of stock at 31st December?
- A. N30,000
- B. N40,000
- C. 50,000
- D. N20,000
Correct Answer: A. N30,000
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