Use the information above to answer the question that follows:
| ₦ | ₦ | ||
| Stock 1/1 | 20,000 | Net sales | 370,000 |
| Add purchases | 250,000 | ||
| Cost of goods available for sale | 270,000 | ||
| Less stock 31/12 | 40,000 | ||
| Cost of goods sold | |||
| Rent expenses | 35,000 | 230,000 |
Find the gross profit.
Options
A) ₦370,000
B) ₦230,000
C) ₦150,000
D) ₦140,000
The correct option is D
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