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The opening stock at the beginning of an accounting period represents

Accounts - Principles of Accounts
JAMB 2024

The opening stock at the beginning of an accounting period represents

  • A. goods returned from last accounting period
  • B. cost of goods sold
  • C. cost of goods purchased
  • D. goods available for sale
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Correct Answer: Option D
Explanation

The opening stock is essentially a snapshot of the inventory you have on hand at the beginning of a new accounting period, ready to be sold or used in production. It serves as the starting point for your inventory calculations

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