The cost of goods sold at N32,000. The gross profit is 25% on cost. Returns...

WAEC 1991

The cost of goods sold at N32,000. The gross profit is 25% on cost. Returns inward amounts to N2,000, What is the value of sales?

A. N42,500
B. N40,500
C. N40,000
D. N38,000
E. N32,000

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Correct Answer: Option C

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The cost of goods sold at N32,000. The gross profit is 25% on cost. Returns...

Correct Answer: Option C

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