NABTEB Accounting 2023 Objective — Question 7

Question 7 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The following transactions relate to Osei Enterprises for the year ended 31st December 2020: Purchases D160,000; Returns outwards D880; Carriage inwards D740; Returns inwards D620; Sales D195,000; Salaries D27,600; Closing stock D14,100. The cost of goods available for sale is (a) D159,860 (b) D159,380 (c) D159,260 (d) D159,120

A. D159,860Correct
B. D159,380
C. D159,260
D. D159,120

Explanation

Cost of goods available for sale = Purchases + Carriage inwards - Returns outwards = 160,000 + 740 - 880 = D159,860.

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