The following information relates to Mallam Amidu Kachella for the year ended 31/12/2005. # Opening stock 4,000 Purchases 16,000 Sales 30,000 Debtors 6,500 ...
Question 1 Report
The following information relates to Mallam Amidu Kachella for the year ended 31/12/2005.
#
Opening stock 4,000
Purchases 16,000
Sales 30,000
Debtors 6,500
Creditors 4,200
Cash in hand 800
Closing stock 5,600
Bank overdraft 3,000
The average stock is
#
Opening stock 4,000
Purchases 16,000
Sales 30,000
Debtors 6,500
Creditors 4,200
Cash in hand 800
Closing stock 5,600
Bank overdraft 3,000
The average stock is
Answer Details
The average stock is #4,800.
To calculate the average stock, we need to add the opening and closing stock and divide by two.
Average stock = (Opening stock + Closing stock) / 2
= (4,000 + 5,600) / 2
= 9,600 / 2
= #4,800
Therefore, the average stock is #4,800.
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