\(\begin{array}{c|c} \text{Opening stock} & 1800 \\ \hline \text{Purchases} & 2800 \\ \hline \text{Sales} & 800...

JAMB 2015

\(\begin{array}{c|c}
\text{Opening stock} & 1800 \\
\hline
\text{Purchases} & 2800 \\
\hline
\text{Sales} & 800 \\
\hline
\text{Closing stock} & 800 \\
\hline
\text{Carriage on sale} & 500 \\
\end{array}\)

Calculate the value of the unused stock

A. N320
B. N350
C. N500
D. N800

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Correct Answer: Option D

Explanation

Closing stock for the year of an accounting period is also regarded as unused stock.

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\(\begin{array}{c|c} \text{Opening stock} & 1800 \\ \hline \text{Purchases} & 2800 \\ \hline \text{Sales} & 800...

Correct Answer: Option D

Explanation

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