A pottery company had sales of N176,000 during the current period and a gross profit...

JAMB 1998

A pottery company had sales of N176,000 during the current period and a gross profit rate of 40%.
The company's cost of merchandize available for sale during the period was N128,000. The company's ending inventory is?

A. N22,400
B. N32,000
C. N51,200
D. N76,800

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Correct Answer: Option A

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