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Use this information below to answer this question.The gross profit margin is 20...

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Use this information below to answer this question.

Trading Account (Extract) 
 ₦ ₦
Opening stock19500Sales96000
Add purchases68700   
 88200  
Less closing stock?  
Cost of goods sold?  
Gross profit c/d?  
 ? ?

The gross profit margin is 20%.

What is the gross profit?

Options

A)
₦88 200
B)
₦76 800
C)
₦19 200
D)
₦12 900

The correct answer is A.

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