Use the following to answer the given question
...
Use the following to answer the given question
\(\begin{array}{c|c} & N & & N \\ \hline \text{Opening stock} & 1,200 & sales & 29,000 \\ Purchases & ? & \text{Less sales returns } & 500 \\ \text{Add. Carriage Inwards} & 300 & & ? \\ \text{Less return outwards} & 1,570 \\ & 28,500 \\ \text{Less closing stock} & 2,220 & \\ \text{Gross Profit(25% of sales)} & 28,500 & & 28,500 \end{array}\)
What is the cost of goods sold?
N19,805
N21,075
N21,375
N21,750
N22,395
Correct answer is C
No explanation has been provided for this answer.
Which of the following is charged to trading account? ...
The art of recording transactions in books of account is known as ...
Calls in advance are treated in the balance sheet as ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hli...
If sales return is understated, it implies that ------------------------------ is overstated ...
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120...
Which of the following expenses constitutes prime cost? &n...