WAEC Accounting 2024 Objective — Question 8
Question 8 of 50 from the West African Examinations Council (WAEC) Accounting 2024 Objective paper, with the correct answer and a full explanation.
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The cost of goods sold is
- A. Le 139,200
- B. Le 135,000Correct
- C. Le 133,200
- D. Le 127,200
Explanation
Sales - Profit = Cost of sales. At 33 1/3% mark-up, profit = 1/4 of cost of sales, giving cost of sales = Le135,000.
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