Use the information below to answer questions 23 and 24.
Incomplete Record (Extract)
Sales………………………………..N10,600
Rent………………………N200
Depreciation of vehicle (cost N5000) 10%
Gross profit margin is 20%
What is the cost of goods sold?
A N4 800
B N8 480
C N2 320
D N 9 900
Answer is B
