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GCE Financial Accounting 1989 Question 46

Question 46

Manufacturing Accounts

Use the Manufacturing and Trading Accounts shown (X marks figures you must work out). What is Average Stock of finished goods?

Diagram for this question
  1. A.₦8,000
  2. B.₦9,000
  3. C.₦10,000
  4. D.₦11,000
  5. E.₦12,000
Show the answer and explanation

Answer: D (₦11,000)

Explanation

(Opening 10,000 + closing 12,000) ÷ 2 = ₦11,000.