WAEC Commerce 2025 Objective — Question 14

Question 14 of 51 from the West African Examinations Council (WAEC) Commerce 2025 Objective paper, with the correct answer and a full explanation.

Use the information below to answer questions 14 to 16: Stock as at 01/01/2024 ₦20,000; Stock as at 31/12/2024 ₦50,000; Purchases ₦100,000; Sales ₦90,000. The cost of goods sold is

A. ₦10,000
B. ₦20,000
C. ₦50,000
D. ₦70,000Correct

Explanation

Cost of goods sold = Opening stock + Purchases − Closing stock = 20,000 + 100,000 − 50,000 = ₦70,000.

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