Accounts - Principles of Accounts
WAEC 1996
Use the following to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Stock 1/1/93} & 4,500 \\ Sales & 13,500\\ Purchases & 5,000 \\ \text{Carriage inwards} & 500 \\ \text{Stock 31/12/93} & 4,200 \\ \text{Return inwards} & 600\end{array}\)
Gross profit is
-
A.
N8,300
-
B.
N8,200
-
C.
N7,700
-
D.
N7,600
-
E.
N7,100
Correct Answer: Option E
Explanation
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