Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,000\\ \text{Opening stock}…

Accounts - Principles of Accounts WAEC 2004

Use the following to answer the given question
\( \begin{array}{c|c} \text{Purchases} & 2,000\\ \text{Opening stock} & 900\\ \text{Closing stock} & 300 \\ \text{Sales} & 3,850\end{array}\)
Gross profit is

  • N1,850
  • N1,250 checkmark
  • N950
  • N650

The correct answer is: B

Explanation

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