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What is the closing stock of raw material?

Given:
Cost of raw materials issued to production…..N37000
Opening stock of raw material………………N2000
Purchases of raw material………………….N3800
Wages …………………………………..N500
What is the closing stock of raw material?
  • A.
    N4000
  • B.
    N3000
  • C.
    N2000
  • D.
    N1000
Correct Answer: Option B
Explanation