Use the information below to answer question Sales....................................N10,900 Stock 1/1................................N1, 000 Stock 31/12..............................N2, 000 Purchases................................N4, 000 Returns outwards.........................N800 Returns inwards..........................N600 Carriage outwards........................N300 Carriage inwards.........................N200 Find the gross profit.

Use the information below to answer question
Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200
Find the gross profit.

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A N7 800
B N7 900
C N9700
D 5700

Correct Answer: Option B

Explanation:
salesÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 10900
- Returns inwardsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 600
-carriage outwardsÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 300Â Â
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 10000Â
opening stockÂ Â Â Â Â Â 1000
purchaseÂ Â Â Â Â Â Â Â Â 4000
- returns outwardsÂ Â Â 800Â Â Â Â Â 3200 Â Â Â
+ carriage inwardsÂ Â Â Â Â Â Â Â Â Â Â 200
goods avail. for saleÂ Â Â Â Â Â Â Â Â 4400
less; closing stockÂ Â Â 2000
carriage outwardsÂ Â Â Â 300Â Â Â Â 2300Â Â Â Â Â 2100
Gross profitÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 7900Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
Â

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