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Accounts (Principles of Accounts) · Final accounts of a sole trader

Accounts (Principles of Accounts)Final accounts of a sole traderJAMB

Sales ₦250,000; returns inwards ₦10,000; cost of sales ₦150,000. Gross profit is

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Answer: C. ₦90,000

Net sales 240,000 − 150,000.

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