Given

$\begin{array}{c|c} \text{Opening stock} & 50,000 \\ \hline \text{Purchases} & 200,000 \\ \hline \text{Sales} & 350,000 \\ \hline \text{Closing stock} & 80,000 \\ \end{array}$

What is the cost of good sold?

N200,000

N190,000

N170,000

N175,000

Correct answer is C

The cost of goods sold is calculated through the formula below

opening stock + purchases – closing stock.
If we go by the formula above it is
N50,000 + N 200,000 - N80,000 = N170,000.

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Given

$\begin{array}{c|c} \text{Opening stock} & 50,000 \\ \hline \text{Purchases} & 200,000 \\ \hline \text{Sales} & 350,000 \\ \hline \text{Closing stock} & 80,000 \\ \end{array}$

What is the cost of good sold?

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Given Opening stock50,000Purchases200,000Sales350,000Closing stock80,000\begin{array}{c|c} \text{Opening stock} & 50,000 \\ \hline \text{Purchases} & 200,000 \\ \hline \text{Sales} & 350,000 \\ \hline \text{Closing stock} & 80,000 \\ \end{array} What is the cost of good sold?

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Given

$\begin{array}{c|c} \text{Opening stock} & 50,000 \\ \hline \text{Purchases} & 200,000 \\ \hline \text{Sales} & 350,000 \\ \hline \text{Closing stock} & 80,000 \\ \end{array}$

What is the cost of good sold?