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
-
A.
D55000 -
B.
D42,000 -
C.
D32,000 -
D.
D28,000
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