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WAEC Commerce 2025 Question 14

Question 14

Business Calculations

Use the information below to answer questions 14 to 16.
₦
Stock as at 01/01/2024 20,000
Stock as at 31/12/2024 50,000
Purchases 100,000
Sales 90,000
The cost of goods sold is

  1. A.₦10,000.
  2. B.₦20,000.
  3. C.₦50,000.
  4. D.₦70,000.
Show the answer and explanation

Answer: D (₦70,000.)

Explanation

Cost of goods sold = 20,000 + 100,000 − 50,000 = ₦70,000.