JAMB - Accounts Principles Of Accounts (2007 - No. 5)

Use the information below to answer question

Stock (1/1/02) at selling price..........N2000
Goods sent to branch (selling price).....N?
Sales by branch (selling price)..........N4500
Stock (31/12/02).........................N?

Opening stock is 1/4 of goods sent to branch.


Determine the closing stock?
N5 500
N6 500
N2 500
N4 500

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