XYZ Ltd's total sales was #100,000. It had opening stock of #20,000 and closing stock...

WAEC 1998

XYZ Ltd's total sales was #100,000. It had opening stock of #20,000 and closing stock of #22,000. It bought goods worth #80,000 and paid #2,000 for rent.

XYZ Ltd's Net Profit is

A. #58,000.00
B. #38,000.00
C. #24,000.00
D. #22,000.00
E. #20,000.00

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Correct Answer: Option E

Explanation

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