A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.
What is the cost of goods sold?
What is the cost of goods sold?
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Correct Answer: Option B
Explanation:
Starting inventory + purchases - ending inventory = cost of goods sold.
2000 + 28000 - 3000 = 27000
Starting inventory + purchases - ending inventory = cost of goods sold.
2000 + 28000 - 3000 = 27000