WAEC - Commerce (2021 - No. 20)

Use the information below to answer questions 20 and 21.

Use the information below to answer questions 20 and 21.

Use the information below to answer questions 20 and 21.

The cost of goods sold is

N4,000

N9,000

N16,000

N21,000

COGS = Opening Stock + Purchases − Closing Stock

Substituting the values provided Opening Stock = 4000, Purchases = 17000, Closing Stock = 12000

COGS = 4000 + 17000 − 12000 = 9000

Therefore, the Cost of Goods Sold (COGS) is 9000