Adama's opening stock is D5,000. He purchased goods worth D30,000. His closing stock was D7,000 and sales D55,000
What is the cost of goods sold
What is the cost of goods sold
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Correct Answer: Option D
Explanation:
cost of goods sold.= opening stock + purchases - closing stock
5,000 + 30,000 = 35,000
35,000 - 7,000 = 28,000
cost of goods sold.= opening stock + purchases - closing stock
5,000 + 30,000 = 35,000
35,000 - 7,000 = 28,000