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Adodo Enterprises and Loss Account (Extract) ₦ ₦ Opening stock 5,000 Sales 100,000 Purchases 00?00 00?00 Less closing stock 5,600 Cost of goods sold 00?00 G...
Question 1
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Adodo Enterprises and Loss Account (Extract)
₦
₦
Opening stock
5,000
Sales
100,000
Purchases
00
?
00
00
?
00
Less closing stock
5,600
Cost of goods sold
00
?
00
Gross profit
00
?
00
100,000
100,000
If the opening stock is 5% of sales. calculate the purchases
₦95,600
₦95,000
₦9,600
₦85,000
Answer Details
Read lesson note on Partnership Accounts (JAMB)
Partnership Accounts
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