JAMB Principles of Accounts 2011 Question 25

Trading account for the year ended 31st December 2009
Opening stock ₦32 000
Purchases ₦40 000; Carriage inwards ₦1 000 = ₦41 000; Less returns ₦2 000 = ₦39 000
Cost of goods available for sale ??
Less closing stock ₦9 000
Cost of goods sold ??
Sales ₦48 000; Less returns ₦2 000
Find the average stock for the period.

1. A.₦27 000
2. B.₦23 000
3. C.₦28 000
4. D.₦20 500