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The cost of goods sold is 

Commerce
WAEC 2021

Use the information below to answer questions 20 and 21.

Opening stock 4000
Closing stock 12000
Purchases 17000

 

The cost of goods sold is 

  • A. N4,000
  • B. N9,000
  • C. N16,000
  • D. N21,000
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Correct Answer: Option B
Explanation

COGS = Opening Stock + Purchases − Closing Stock

Substituting the values provided Opening Stock = 4000, Purchases = 17000, Closing Stock = 12000

COGS = 4000 + 17000 − 12000 = 9000

Therefore, the Cost of Goods Sold (COGS) is 9000


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