WAEC Financial Accounting 1991 (August) Question 50

1/1/86: Creditors ₦5,000; Stock ₦1,200
31/12/86: Creditors ₦8,000; Stock ₦1,100
Mark-up: 25%
Cash paid to creditors: ₦7,000

Sales for the year amounted to

1. A.₦12,625
2. B.₦12,000
3. C.₦11,300
4. D.₦11,200
5. E.₦10,100