by: Admin_LouisPosted on:

What is the Gross Profit or Loss?

The opening inventory of a firm at the beginning of the financial year isN30,0000 and at the end of the financial year it is N20,000 while the sales and purchases are N350,000 and N250,000 respectively. What is the Gross Profit or Loss?
N90,000 Loss
N50,000 Profit
N10,000 Loss
N90,000 Profit

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