Accounts (Principles of Accounts)Incomplete recordsWAEC
Sales are ₦240,000 and the gross margin is 25% of sales. Find the cost of sales.
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Answer: C. ₦180,000
Gross profit = 25% × 240,000 = ₦60,000; cost of sales = ₦180,000.
An AdmitMe practice question, written for the WAEC syllabus. Not an official past question.