What is the cost of goods sold?

By: |Published on: Mar 14|Categories: Commerce WAEC| 0 comments

Adama’s opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000

A. D55000
B. D42,000
C. D32,000
D. D28,000

Correct Answer: Option D

D. D28,000

Explanation

cost of goods sold.= opening stock + purchases – closing stock

5,000 + 30,000 = 35,000

35,000 – 7,000 = 28,000

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