Accounts - Principles of Accounts
JAMB 1995
I. A retailer when fixing his selling price adds one-quarter to the cost of the article
II. The expenses of the retailer is 10% of his sales
III. The total sales is N23,000
IV. he turned over his stock five times in the year.
Compute the average amount of stock in hand at cost price
-
A.
N3,860
-
B.
N3,806
-
C.
N3,680
-
D.
N3,086
Correct Answer: Option C
Explanation
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