Determine the closing stock?
Use the information below to answer question
Stock (1/1/02) at selling price……….N2000
Goods sent to branch (selling price)…..N?
Sales by branch (selling price)……….N4500
Stock (31/12/02)…………………….N?
Opening stock is 1/4 of goods sent to branch.
Determine the closing stock?
A N5 500
B N6 500
C N2 500
D N4 500
Answer is A
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