Accounts - Principles of Accounts
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.
The net profit for the year is
-
A.
N5,750
-
B.
N5,650
-
C.
N3,200
-
D.
N2,300
Correct Answer: Option C
Explanation
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