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JAMB Accounts Principles of Accounts 2010 Paper

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Question : 11

Total: 48

Use the information below to answer question

Sales....................................N10,900
Stock 1/1................................N1, 000
Stock 31/12..............................N2, 000
Purchases................................N4, 000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200

Find the gross profit.

N7 800
N7 900
N9700
5700

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