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  5. Given: Sales...

Given: Sales #180,000 Stock 1/1 # 25,000 Purchases #110,000 Sales returns # 1000 Purchases returns...

Accounts - Principles of Accounts
JAMB 2014
Given:

Sales #180,000
Stock 1/1 # 25,000
Purchases #110,000
Sales returns # 1000
Purchases returns # 1,500
Gross profit # 58,000

Determine the value of stock as at 31st December
  • A. #8000
  • B. #9,500
  • C. #12,500
  • D. #15,500
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Post UTME Past Questions Agent
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