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Use the information below to answer the question:Trading account for the year en...


Question

Use the information below to answer the question:

Trading account for the year ended 31st December 2009

Opening Stock                                               32,000Sales                48,000     
Purchases                           40,000Less Return       2,000
Carriage inwards                   1,000 
                                            41,000 
Less Return                          2,000                 39,000 
  
Cost of goods available                                     ?? 
Less closing stock                                            9,000 
Cost of goods sold                                            ?? 

Calculate the cost of goods sold

Options

A) ₦61,000

B) ₦62,000

C) ₦58,000

D) ₦57,000

The correct answer is B.


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