Use the information below to answer the question that follows
Sales————— 120,000
Purchase———–100,000
Opening stock—–10,000
Closing stock——20,000
The cost of goods sold is———–
- Le 120,000
- Le 110,000
-
Le 90,000
- Le 30,000
The correct answer is: C
Explanation
Cost of goods sold = opening stock + purchase - closing stock
10,000 + 100,000 - 20,000 = 90,000