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JAMB Accounting 2008 Objective — Question 16

Question 16 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2008 Objective paper, with the correct answer and a full explanation.

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Determine the closing stock

  • A. 76800Correct
  • B. 67800
  • C. 14100
  • D. 11400

Explanation

Cost of goods sold = Sales - Gross profit = N96,000-N19,200 = N76,800.

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