Home » » Use the following information to answer the given question:$$\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} & 1,350 \\ \text{Creditors- 1/01/2004} & 1,274 \\ \text{Creditors- 31/12/2004} & 1,140\\ \text{Cash paid to creditors} & 6,900\\ \text{Debtors 1/01/2004} & 465\\ \text{Cash received from debtors} & 11,130 \\ \text{Debtors 31/12/2004} & 300\end{array}$$Cost of sales for the year was...

# Use the following information to answer the given question:$$\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} & 1,350 \\ \text{Creditors- 1/01/2004} & 1,274 \\ \text{Creditors- 31/12/2004} & 1,140\\ \text{Cash paid to creditors} & 6,900\\ \text{Debtors 1/01/2004} & 465\\ \text{Cash received from debtors} & 11,130 \\ \text{Debtors 31/12/2004} & 300\end{array}$$Cost of sales for the year was...

### Question

Use the following information to answer the given question:

$$\begin{array}{c|c} & ₦ \\ \hline \text{Opening stock} & 1,800\\ \text{Closing stock} & 1,350 \\ \text{Creditors- 1/01/2004} & 1,274 \\ \text{Creditors- 31/12/2004} & 1,140\\ \text{Cash paid to creditors} & 6,900\\ \text{Debtors 1/01/2004} & 465\\ \text{Cash received from debtors} & 11,130 \\ \text{Debtors 31/12/2004} & 300\end{array}$$

Cost of sales for the year was

A) ₦10,965

B) ₦8,565

C) ₦7,215

D) ₦6,765