Accounts - Principles of Accounts
WAEC 1991
Use the following information to answer the given question
\(\begin{array}{c|c} & N \\ \hline \text{Stock in hand} & 4,000 \\ \text{Purchases for resale} & 5,000 \\ Sales & 3,500 \\ Margin & \text{20%}\end{array}\)
The closing stock is
-
A.
N6,200
-
B.
N5,500
-
C.
N5,000
-
D.
N4,000
-
E.
N3,500
Correct Answer: Option A
Explanation
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