Use the information above to answer questions 19 and 20.July 30 Closing stock 100 units at ₦90 July 8 Purchased 200 units at ₦95 July 10 Sold 160 units July...

Assessment: JAMB UTME - Principles of Accounts - 2011 Subject: Financial Accounting

Question 1 Report

Use the information above to answer questions 19 and 20.July 30 Closing stock 100 units at ₦90

July 8 Purchased 200 units at ₦95

July 10 Sold 160 units

July 17 Returned 80 faulty units purchased at ₦95

July 18 Purchased 200 units at ₦105

July 20 Sold 180 units

July 28 Purchased 200 units at ₦110

July 29 Sold 120 units

July 30 Sold 100 unitsHow many units were at hand as at July 30?

Answer Details
To find the number of units at hand as of July 30, we need to calculate the total number of units purchased and returned, and then subtract the total number of units sold. Total units purchased = 200 + 200 + 200 = 600 units Total units returned = 80 units Total units sold = 160 + 180 + 120 + 100 = 560 units Therefore, the units at hand as of July 30 can be calculated as follows: Units at hand = Closing stock + Total units purchased - Total units returned - Total units sold Units at hand = 100 + 600 - 80 - 560 Units at hand = 60 Therefore, the answer is 60 units.

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