JAMB Principles of Accounts 2002 Question 22

Use the information below to answer questions 21 and 22.
Adex Ltd. issues stock to its retail branches at cost price. The following particulars relate to Ede branch.
(₦)
Stock at branch 1st January at cost 400
Goods sent to branch at cost 8000
Returns to head office 340
Cash sales 9160
Stock at branch 31st December at cost 720
Calculate the cost of goods credited to the head office trading account

1. A.₦7660
2. B.₦7500
3. C.₦7460
4. D.₦7200.