Determine the cost of goods sold?

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