A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000. The average stock is

Assessment: WAEC SSCE - Commerce - 2011 (Objective) Subject: Commerce

Question 1 Report

A trader's turnover was D36,000. Purchases was D28,000. The opening stock was D2,000 and the closing stock was D3,000.

The average stock is

Answer Details
To calculate the average stock, we can use the formula: Average Stock = (Opening Stock + Closing Stock) / 2 Given: Turnover = D36,000 Purchases = D28,000 Opening Stock = D2,000 Closing Stock = D3,000 We can calculate the Cost of Goods Sold (COGS) using the formula: COGS = Turnover - Purchases COGS = D36,000 - D28,000 COGS = D8,000 We can calculate the Average Stock using the formula above: Average Stock = (Opening Stock + Closing Stock) / 2 Average Stock = (D2,000 + D3,000) / 2 Average Stock = D2,500 Therefore, the average stock is D2,500.
Read lesson note on Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)
Read lesson note on Production (WAEC)
Read lesson note on Commerce (JAMB)
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