Question on: JAMB Accounting - 2002
Given:
Sales ............................N195,200
Stock 1st January.................N34,000
Purchases ........................N126,000
Sales returns ....................N1,200
Purchases returns ................N2,000
If the gross profit is N66,000, what is the value of stock at 31st December?
A
N30,000
B
N40,000
C
50,000
D
N20,000
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Correct Option: A
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