Use the question to answer this question Openin... - JAMB Accounting 2019 Question
Use the question to answer this question:
| Opening stock | ₦ |
| Department A B |
100 800 |
| Purchases: A B Wages of workers Salaries |
1500 2000 50 100 |
| Sales A B |
3000 5000 |
Expenses are to be shared in the ratio of sales.
What was the cost of goods sold?
A
₦25,000
B
₦35,000
C
₦50,000
D
₦75,000
correct option: d
Cost of goods sold = opening stock + purchases - closing stocks
= 20,000 + 70,000 - 15,000
= ₦75,000
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