JAMB Principles of Accounts 2012 Question 34

Trading, Profit and Loss Account (Extract), Department X:
Net sales ₦3,000
Less cost of goods sold:
Stock 1/1 ₦200
Purchases ₦1,000
Cost of good available for sale ₦1,200
Less stock 31/12 ₦400
Cost of goods sold ₦800
From the above information, the gross profit for department X is

1. A.₦3,800
2. B.₦2,300
3. C.₦2,200
4. D.₦2,000