JAMB Accounting 2010 Objective — Question 15

Question 15 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

15. The cost of goods available for sale is A. 4,600 B. 5,000 C. 6,400 D. 4,400

A. 4,600
B. 5,000
C. 6,400
D. 4,400Correct

Explanation

Cost of goods available for sale = Opening stock (1,000) + Purchases (4,000) - Returns outwards (800) + Carriage inwards (200) = 4,400.

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