WAEC - Commerce (2011 - No. 18)
A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.
What is the cost of goods sold?
What is the cost of goods sold?
D28,000
D27,000
D8,000
D5,000
Explication
Starting inventory + purchases - ending inventory = cost of goods sold.
2000 + 28000 - 3000 = 27,000
2000 + 28000 - 3000 = 27,000