Use the following to answer the given question

\(\begin{array}{c|c} & N & & N \\ \hline \text{Opening stock} & 1,200 & sales & 29,000 \\ Purchases & ? & \text{Less sales returns } & 500 \\ \text{Add. Carriage Inwards} & 300 & & ? \\ \text{Less return outwards} & 1,570 \\ & 28,500 \\ \text{Less closing stock} & 2,220 & \\ \text{Gross Profit(25% of sales)} & 28,500 & & 28,500 \end{array}\)

The cost of goods available for sale is

Similar Questions

Given: Stock of raw materials 1/40............N11,150 Purchases of raw materials.............N112,...

The following transactions relate to Osei Enterprises for the year ended 31st December 2020. ...

An equipment costing N60,000 was bought on 1st January 1991. Depreciation was provided at 20 percent...

A petty cashier operates with an imprest of D1,000 per week. At the end of the week he had disbursed...

Use the following information to answer given question \(\begin{array}{c|c} & ₦ \\ \hline \...

Teteh and Kukuma are in partnership with capital balances of #300,000 and #200,000 respectively. The...

Statement of assets and liabilities as at 31st December, 2001. Shareholders' interest N240&nb...

The subscription paid in advance is treated in the balance sheet of a club as? ...

The term bad debt is used to describe  ...

Given: Prime cost N220,000 Factory cost N32,000 Work in progress at beginning N25,000 Work in pr...