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If sales is  D 12,000, and the gross profit markup percentage is 25%. What is the...

Accounts - Principles of Accounts
JAMB 2025

If sales is  D 12,000, and the gross profit markup percentage is 25%. What is the cost of sales?

  • A. D 9,000
  • B. D 9,600
  • C. D 3,000
  • D. D 2,400
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Correct Answer: Option A
Explanation

Gross profit = 25% × D12,000 = D3,000
Cost of sales = Total sales − Gross profit = 12,000 − 3,000 = D9,000

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 127076
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts