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WAEC Financial Accounting 2026 Question 12

Question 12

Manufacturing Accounts

Use the following information to answer questions 11 and 12.
Prime cost: D 36,700
Factory overheads: D 6,600
Work-in-progress (1/1/2024): D 4,300
Work-in-progress (31/12/2024): D 3,600
Cost of goods sold: D 38,000
The stock of finished goods on 31/12/2024 is

  1. A.D 7,900
  2. B.D 7,300
  3. C.D 6,000
  4. D.D 3,600
Show the answer and explanation

Answer: C (D 6,000)

Explanation

With no opening finished goods given, closing stock = goods manufactured 44,000 − cost of goods sold 38,000 = D 6,000.