Sales....................................N10,900
Stock 1/1................................N1,000
Stock 31/12..............................N2,000
Purchases................................N4,000
Returns outwards.........................N800
Returns inwards..........................N600
Carriage outwards........................N300
Carriage inwards.........................N200
The cost of goods available for sale is?
N4,600
N5,000
N6,400
N4,400
Correct answer is D
sales 10900
- Returns inwards 600
-carriage outwards 300
10000
opening stock 1000
purchase 4000
- returns outwards 800 3200
+ carriage inwards 200
goods avail. for sale 4400
less; closing stock 2000
carriage outwards 300 2300 2100
Gross profit 7900