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WAEC Commerce 2025 Question 15

Question 15

Business Calculations

Use the information below to answer questions 14 to 16.
₦
Stock as at 01/01/2024 20,000
Stock as at 31/12/2024 50,000
Purchases 100,000
Sales 90,000
The gross profit is

  1. A.₦10,000.
  2. B.₦20,000.
  3. C.₦50,000.
  4. D.₦70,000.
Show the answer and explanation

Answer: B (₦20,000.)

Explanation

Gross profit = sales − cost of goods sold = 90,000 − 70,000 = ₦20,000.