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Use the information above to answer the question Find the gross profit.

Accounts - Principles of Accounts
JAMB 2012

Use the information above to answer the question
Find the gross profit.

  • A. N370,000
  • B. N230,000
  • C. N150,000
  • D. N140,000
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Correct Answer: Option D
Explanation

Gross profit = sales - cost of goods sold 

370,000 - 230,000 = 140,000

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