JAMB - Commerce (2020 - No. 25)
Given:
₦
Opening Stock 1,800
Purchases 2,800
Sales 8,000
Closing stock 350
Carriage on sales 500
Calculate the value of the unused stock.
₦800
₦500
₦320
₦350
Explication
The unused stock is the value of the stock at the end of the business year which is the closing stock valued at N350 in this case.