Trading Account (Extract)

.................N.............................N......
Opening stock...19500........Sales............96 000..
Add purchases...68700.................................
................88200.................................
Less closing stock..?.................................
Cost of goods sold..?.................................
Gross profit C/D....?.................................
....................?..........................?......
The gross profit margin is 20%

What is the gross profit?

Similar Questions

Use the following information to answer the given question Rufai, a vulcanize bought 4 machines for...

Use the following information to answer the given question. John and Johnson are in partnership, sh...

Use the following information to answer the given question: \(\begin{array}{c|c} \text{Date of de...

\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...

Use the following information to answer the given question \(\begin{array}{c|c} & ₦ \\ \h...

Which method of pricing can be used satisfactorily in either rising or falling price situation? ...

Which of the following fixed assets is not depreciable? ...

Which of the following is not a debit entry on a sales ledger control account? ...

Use the information to answer the given question \(\begin{array}{c|c} Dr & & & &...

Carriage inwards is shown on the ...