Loading....

JAMB UTME - Principles of Accounts - 2012

Question 1 Report

   
Stock 1/1 20,000 Net sales 370,000
Add purchases 250,000    
Cost of goods available for sale 270,000    
Less stock 31/12 40,000    
Cost of goods sold     230,000
Rent expenses 35,000    

Use the information above to answer the question:

Calculate the net profit.