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NECO Accounting 2007 Objective — Question 39

Question 39 of 60 from the National Examinations Council (NECO) Accounting 2007 Objective paper, with the correct answer and a full explanation.

Using the same data, the average stock held is

A. N60,000
B. N55,000
C. N40,000Correct

Explanation

Average stock = (Opening stock N50,000 + Closing stock N30,000) / 2 = N40,000.

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