Use this information below to answer this question.
Trading Account (Extract)
₦ ₦
Opening stock 19500 Sales 96000
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?
Options
A) ₦88 200
B) ₦76 800
C) ₦19 200
D) ₦12 900
The correct option is A
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