I. A retailer when fixing his selling price adds one-quarter to the cost of the...

JAMB 1995

I. A retailer when fixing his selling price adds one-quarter to the cost of the article
II. The expenses of the retailer is 10% of his sales
III. The total sales is N23,000
IV. he turned over his stock five times in the year.
Compute the average amount of stock in hand at cost price

A. N3,860
B. N3,806
C. N3,680
D. N3,086

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Correct Answer: Option C

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