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JAMB Commerce 2012 Question 32

Question 32

Business Calculations

Given:
Opening stock ₦1,800
Purchases ₦2,800
Sales ₦8,000
Closing stock ₦350
Carriage on sales ₦500
Calculate the value of the unused stock.

  1. A.₦800
  2. B.₦500
  3. C.₦350
  4. D.₦320
Show the answer and explanation

Answer: C (₦350)

Explanation

Unused stock is the stock left at the end of the period, the closing stock of ₦350.