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WAEC Commerce 2024 Question 14

Question 14

Business Calculations

Use the information below to answer questions 14 and 15.
D
Opening stock 22,000.00
Purchases 20,000.00
Debtors 12,000.00
Creditors 8,000.00
Closing stock 8,000.00
Overdraft 5,000.00
Calculate average stock.

  1. A.D15,000.00.
  2. B.D14,000.00.
  3. C.D13,000.00.
  4. D.D10,000.00
Show the answer and explanation

Answer: A (D15,000.00.)

Explanation

Average stock = (opening stock + closing stock) ÷ 2 = (22,000 + 8,000) ÷ 2 = D15,000.