A trader’s turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.
What is the cost of goods sold?
- D28,000
-
D27,000
- D8,000
- D5,000
The correct answer is: B
Explanation
Starting inventory + purchases - ending inventory = cost of goods sold.
2000 + 28000 - 3000 = 27000