Question on: JAMB Accounting - 1995
I. A retailer when fixing his selling price adds one-quarter to the cost of the article
II. The expenses of the retailer is 10% of his sales
III. The total sales is N23,000
IV. he turned over his stock five times in the year.
Compute the average amount of stock in hand at cost price
A
N3,860
B
N3,806
C
N3,680
D
N3,086
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Correct Option: C
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