Test Index

WAEC Commerce 2024 Paper

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Question : 14

Total: 50

use the information below to answer this question

opening stock 22,000.00

purchases 20,000.00

Debtor 12,000.00

Creditors 8,000.00

Closing stock 8,000.00

overdraft 5,000.00

calculate the average stock

D15,000.00
D14,000.00
D13,000.00
D10,000.00

Solution:

Concept:

Average stock is the mean of opening stock and closing stock during a period.

Explanation:

Opening stock is

D22{,}000.00

.

Closing stock is

D8{,}000.00

.

Use the formula:

\text{Average stock} = \frac{\text{Opening stock} + \text{Closing stock}}{2}

Substitute the values:

\text{Average stock} = \frac{22{,}000 + 8{,}000}{2}

\text{Average stock} = \frac{30{,}000}{2}

\text{Average stock} = D15{,}000.00

Answer:

A.

D15{,}000.00

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