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WAEC Commerce 2011 Question 18

Question 18

Business Calculations

Use the following information: A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock D3,000.
The average stock is

  1. A.D5,000
  2. B.D3,000
  3. C.D2,500
  4. D.D2,000
Show the answer and explanation

Answer: C (D2,500)

Explanation

Average stock = (2,000 + 3,000) ÷ 2 = D2,500.