WAEC Accounting 2018 Objective — Question 21
Question 21 of 50 from the West African Examinations Council (WAEC) Accounting 2018 Objective paper, with the correct answer and a full explanation.
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Cost of goods sold is calculated as
- A. opening stock + purchases − closing stockCorrect
- B. opening stock + sales − closing stock
- C. opening stock + purchases + closing stock
- D. opening stock + sales + closing stock
Explanation
Cost of Goods Sold = Opening Stock + Purchases − Closing Stock.
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