Use the following to answer this question
What was the gross profit?
| Opening stockPurchasesSalesClosing Stocks | ₦20,00070,000100,00015,000 |
What was the gross profit?
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Correct Answer: Option D
Explanation:
Gross profit = sales - cost of goods sold
100,000 - 75,000
⇒ ₦25,000
Gross profit = sales - cost of goods sold
100,000 - 75,000
⇒ ₦25,000