A. cost of goods sold
B. cost of goods produced
C. profit on goods produced
D. value of work-in-progress

Correct Answer:

Option B – cost of goods produced

SEE ALSO  A trader paid insurance premium of N45,000 for 15 months ended 31st March, 2000. He prepares the account to 31st December. How much is carried in the Balance Sheet at 31st December, 2000?

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