JAMB Principles of Accounts 2013 Question 40

Department | K (₦) | Y (₦)
Opening stock | 2,500 | 800
Purchases | 120,000 | 100,000
Sales | 180,000 | 200,000
Salaries | 8,000 | 30,000
Closing stock | 3,000 | 1,500
Rate expenses of N1,500 are apportioned in the ratio 1:2.
The gross profit for K is

1. A.₦23,500.
2. B.₦60,500.
3. C.₦60,700.
4. D.₦82,500.