What is the cost of good sold?

Given

A. N200,000
B. N190,000
C. N170,000
D. N175,000

Correct Answer:

Option C – N170,000

Explanation

The cost of goods sold is calculated through the formula below

opening stock + purchases – closing stock.
If we go by the formula above it is
N50,000 + N 200,000 – N80,000 = N170,000.