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Accounts (Principles of Accounts) · Final accounts of a sole trader

Accounts (Principles of Accounts)Final accounts of a sole traderWAEC

Opening stock ₦5,000; purchases ₦40,000; closing stock ₦7,000. Cost of goods sold is

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Answer: A. ₦38,000

5,000 + 40,000 − 7,000.

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