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  5. Cost of goods sold i...

Cost of goods sold is calculated as...................

Accounts - Principles of Accounts
WAEC 2018

Cost of goods sold is calculated as...................

  • A. opening stock+ purchase - closing
  • B. opening stock + sales - closing stock
  • C. opening stock + purchase + closing stock
  • D. opening stock + sales + closing stock
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Correct Answer: Option A
Explanation

Starting inventory + purchases − ending inventory = cost of goods sold

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WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
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