N Stock at branch 1st January at cost 400 Goods sent to branch at cost
FINANCIAL
JAMB 2018
Stock at branch 1st January at cost | 400 |
Goods sent to branch at cost | 8000 |
Returns to head office | 340 |
Cash sales | 9160 |
Stock at branch 31st December at cost | 720 |
Use the information above to answer the question.
Adex Ltd. Issues stock to its retail branches at cost price.
Calculate the cost of goods credited to the head office trading account
- A. #7200
- B. #7460
- C. #7500
- D. #7660
Correct Answer: D. #7660
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