JAMB Accounting 2011 Objective — Question 18
Question 18 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.
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[Stock movement: June 30 Closing stock 100 units at #90; July 8 Purchased 200 units at #95; 10 Sold 160 units; 17 Returned 80 faulty units purchased at #95; 18 Purchased 200 units at #105; 20 Sold 180 units; 28 Purchased 200 units at #110; 29 Sold 120 units; 30 Sold 100 units] How many units were at hand as at July 30?
- A. A. 80
- B. B. 100
- C. C. 60Correct
- D. D. 160
Explanation
Units at hand by July 30 = 100+200-160-80+200-180+200-120-100 = 60 units.
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