Accounts > 2011 > 26
JAMB UTME
Use the information below to answer this question.
Trading account for the year ended 31st December 2009.
| ₦ | ₦ | |||
| Opening stock | 32000 | Sales | 4800 | |
| Purchases | 40000 | Less returns | 2000 | |
| Carriage inwards | 1000 | | ||
| 41000 | | |||
| Less returns | 2000 | 39000 | | |
| Cost of goods | | |||
| Available for sale | ?? | | ||
| Less closing stock | 9000 | | ||
| Cost of goods sold | ?? |
Calculate the cost of goods sold.
A.
₦58 000
B.
₦61 000
C.
₦62 000
D.
₦57 000
Answer: C
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