If the gross profit margin is 10% of sales, what is the value of the cost of goods sold?

  • A N10,000
  • B N90,000
  • C N105,600
  • D N110,000
jamb 2009accounting

The correct answer is B. N90,000

\(\frac{10}{100}\) x 100,000 = 10,000

cost of goods sold = sales - profit

100,000 - 10,000 = 90,000

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