WAEC Commerce 2011 Paper

Concept:The cost of goods sold is the direct cost of the items that were actually sold during the period. It is found by adding purchases to the opening stock and then subtracting the closing stock left unsold.Explanation:Start with the trader’s opening stock, which was valued at $D2{,}000$.Add the purchases made during the period, $D28{,}000$.This gives the total goods available for sale:$D2{,}000 + D28{,}000 = D30{,}000$At the end, the closing stock worth $D3{,}000$ remained unsold.So, subtract the closing stock from the goods available for sale:$D30{,}000 - D3{,}000 = D27{,}000$Therefore, the cost of goods sold is $D27{,}000$, which is option B.Answer:B. $D27{,}000$