What would be the cost of goods sold?

By: |Published on: Apr 7|Categories: Accounting JAMB| 0 comments

Given,

₦
Stock (1/4/94)  800
Purchases of flour  2,450
Sales  4,745
Wages of bakery staff 675
Carriage outwards 50
Salary of administrative staff 225
Stock (31/3/95) 940
Capital  1,540

 

A. ₦3,925
B. ₦3,250
C. ₦2,985
D. ₦2,575

Correct Answer:

Option C = ₦2,985

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