Question on: JAMB Accounting - 1999
Use information below to answer this question.
Capital: opening balance 307,000
closing balance 342,000
Net profit for the period 121,600
Opening stock 98,800
Purchases 706,000
Carriage inwards 17,500
Cost of goods sold 740,700
Total selling , general and
administration expenses 526,000
Discount received 9, 650
What is the closing stock for the period?
A
N 69,300
B
N81,300
C
N81,600
D
N106,400
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Correct Option: C
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