WAEC - Accounts Principles Of Accounts (2018 - No. 23)
Use the information below to answer the question that follows
Sales--------------- 120,000
Purchase-----------100,000
Opening stock-----10,000
Closing stock------20,000
The cost of goods sold is-----------
Le 120,000
Le 110,000
Le 90,000
Le 30,000
Explanation
Cost of goods sold = opening stock + purchase - closing stock
10,000 + 100,000 - 20,000 = 90,000
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