rading, Profit and Loss Account (Extract) Dept X ₦ ₦ Net sales Less cost of goods sold 3,000 Stock 1/1 200 Purchases 1,000 Cost of goods available for sale ...

Question 1 Report

rading, Profit and Loss Account (Extract)
	Dept	X
	₦	₦
Net sales
Less cost of goods sold		3,000
Stock 1/1	200
Purchases	1,000
Cost of goods available for sale	1,200
Less stock 31/12	400
Cost of goods sold		800

Given:

From the above information, the gross profit fro department X is

₦3,800

₦2,300

₦2,200

₦2,000