Calculate the cost of goods credited to the head office trading account?

By: |Published on: Dec 8|Categories: Accounting JAMB| 0 comments

Adex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch. Stock at branch 1st January at cost…………N400 Goods sent to branch at cost……………….N8000 Returns to head ………………………….N340 Cash sales ………………………………N9160 Stock at branch 31st December at cost……….N720

A. N7660
B. N7500
C. N7460
D. N7200

Correct Answer:

Option A – N7660

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