Use the information below to answer question
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Trading account for the year ended 31st December 2009
| ₦ | ₦ |
| Opening Stock                        32,000 | Sales        48,000   |
| Purchases              40,000 | Less Return    2,000 |
| Carriage inwards          1,000 |  |
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 41,000 | Â |
| Less Return             2,000         39,000 |  |
| Â | Â |
| Cost of goods available                   ?? |  |
| Less closing stock                      9,000 |  |
| Cost of goods sold                      ?? |  |
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Calculate the cost of goods sold
Correct Option:
B
Calculation:
 Cost of goods available for sale: (32000 + 39000) = 71000
 Less closing stock: 9000
 Cost of goods sold: 7100 - 9000
 = 62000
Ans. #62000