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?

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?

Answer Details

The cost of goods sold can be calculated using the formula: Cost of Goods Sold = Opening Stock + Purchases - Closing Stock Substituting the given values into the formula, we get: Cost of Goods Sold = 2,000 + 28,000 - 3,000 Cost of Goods Sold = 27,000 Therefore, the cost of goods sold is D27,000.