Sales - #232,000 Opening stock - ₦28,000 Purchases - #128,000 Carriage inwards - ₦4,000 Carriage outwards - ₦6,000 Closing stock - ₦10,000 Discount received...

To calculate the gross profit, we need to subtract the cost of goods sold (COGS) from the total sales revenue. First, we need to calculate the COGS: Opening stock + Purchases + Carriage inwards - Closing stock = COGS ₦28,000 + ₦128,000 + ₦4,000 - ₦10,000 = ₦150,000 Next, we can calculate the gross profit: Sales - COGS = Gross profit ₦232,000 - ₦150,000 = ₦82,000 Therefore, the gross profit for this business is ₦82,000. Gross profit is a measure of how much profit a business makes after deducting the cost of goods sold. In this case, the business had sales revenue of ₦232,000, but it cost them ₦150,000 to produce the goods that they sold. Therefore, they made a gross profit of ₦82,000. This money can be used to pay for other expenses, such as salaries, rent, and utilities, or reinvested in the business for growth.