Question

Given the following figures: sales GHS8,200, opening GHS1,300, closing stock GHS900, purchase GHS6,400, carriage inwards GHS200, the cost of goods sold figure is?

a) GHS5,000
b) GHS6,100
c) GHS7,100
d) GHS8,300

Answer 1

The cost of goods sold (COGS) based on the figures provided is GHS7,000, which does not match any of the options given.

Step-by-step explanation:

The student is asking for the calculation of the cost of goods sold (COGS). To calculate this figure, we utilize the formula:

COGS = Opening Stock + Purchases + Carriage Inwards - Closing Stock

By substituting the provided figures into the formula, we get:

COGS = GHS1,300 + GHS6,400 + GHS200 - GHS900

After calculating the above, we find that:

COGS = GHS7,000

Therefore, the correct answer for the cost of goods sold is GHS7,000, which is not listed among the options provided (a) GHS5,000, (b) GHS6,100, (c) GHS7,100, (d) GHS8,300. It seems there could be a discrepancy in the options provided compared to the calculated answer.