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WAEC Commerce 2017 Question 14

Question 14

Business Calculations

Use the following information: Adama's opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000.
What is the cost of goods sold?

  1. A.D55,000
  2. B.D42,000
  3. C.D32,000
  4. D.D28,000
Show the answer and explanation

Answer: D (D28,000)

Explanation

Cost of goods sold = 5,000 + 30,000 − 7,000 = D28,000.