JSCE Business Studies 2024 Objective — Question 18

Question 18 of 100 from the Junior Secondary Certificate Examination (JSCE) Business Studies 2024 Objective paper, with the correct answer and a full explanation.

Calculate the cost of goods sold from the following information. Opening stock ₦1200, Closing stock ₦400, Purchases ₦3500, Sales ₦5000

A. ₦4300Correct
B. ₦4700
C. ₦15,100
D. ₦9600

Explanation

Cost of goods sold = Opening stock + Purchases - Closing stock = 1200 + 3500 - 400 = ₦4,300.

Sign up free to unlock

Score tracking
Practice history
Saved questions
Progress dashboard
Personalized sessions
Weak-topic breakdown

…and/or go further with premium services and No Ads.

Create free account

More questions from Business Studies 2024 Objective More Business Studies past papers