Accounts - Principles of Accounts
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?
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A.
N22,400
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B.
N32,000
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C.
N51,200
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D.
N76,800
Correct Answer: Option A
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