Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,000\\ \text{Opening stock} & 900\\ \text{Closing stock} & 300 \\ \...

Use the following to answer the given question
\( \begin{array}{c|c} \text{Purchases} & 2,000\\ \text{Opening stock} & 900\\ \text{Closing stock} & 300 \\ \text{Sales} & 3,850\end{array}\)
The cost of goods available is

Answer Details

The cost of goods available is the total cost of all goods that were available for sale during the period. It is calculated by adding the opening stock and the purchases. Cost of goods available = Opening stock + Purchases Using the figures given in the table, we have: Cost of goods available = 900 + 2,000 Cost of goods available = 2,900 Therefore, the cost of goods available is N2,900. is the correct answer.