Use the question to answer this question:
| Opening stock | ₦ |
| Department A B | 100 800 |
| Purchases: A B Wages of workers Salaries | 1500 2000 50 100 |
| Sales A B | 3000 5000 |
Expenses are to be shared in the ratio of sales.
What was the cost of goods sold?
A
₦25,000
B
₦35,000
C
₦50,000
D₦75,000
Answer is D
Cost of goods sold = opening stock + purchases – closing stocks
= 20,000 + 70,000 – 15,000
= ₦75,000
