Determine the cost of goods sold?

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

Given:

Stock (1/4/94) N800

Purchases of flour N2450

Sales N4745

Wages of bakery staff N675

Carriage outwards N50

Salary of administrative staff N225

Stock (31/3/95) N940

Capital N1540

A. N2575
B. N2985
C. N3250
D. N3925

Correct Answer:

Option B – N2985

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