WAEC Accounting 2020 Objective — Question 26
Question 26 of 50 from the West African Examinations Council (WAEC) Accounting 2020 Objective paper, with the correct answer and a full explanation.
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A manufacturing company's cost of production was D200,000. The finished goods were transferred to the warehouse at D 220,000. At the end of the year, 9% of these were still in stock. The value of closing stock of finished goods in the trading account is
- A. D37,800
- B. D20,000
- C. D19,800Correct
- D. D18,000
Explanation
Value of closing stock = 9% x D220,000 = D19,800.
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