WAEC Accounting 2019 Objective — Question 7
Question 7 of 50 from the West African Examinations Council (WAEC) Accounting 2019 Objective paper, with the correct answer and a full explanation.
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The cost of goods sold was
- A. N3,330,000
- B. N2,910,000Correct
- C. N2,760,000
- D. N2,610,000
Explanation
Cost of goods sold = Opening stock + Purchases - Closing stock = N(540,000+2,850,000-480,000) = N2,910,000.
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