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
Answer is A
