Use the information above to answer the question Find the gross profit.

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Accounts - Principles of Accounts JAMB 2012

Use the information above to answer the question
Find the gross profit.

  • N370,000
  • N230,000
  • N150,000
  • N140,000 checkmark

The correct answer is: D

Explanation

Gross profit = sales - cost of goods sold 

370,000 - 230,000 = 140,000

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