Accounting Multiple Choice Question – 31 December 2020

The opening stock of a business is £10,000 and the cost of goods sold is £200,000.

Using the average figure of opening and closing stock, what value of closing stock is needed to give a stock turnover of 10?

Select ONE answer:

1. £10,000
2. £20,000
3. £30,000
4. £40,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct – (186 / 24) * 365
4. Not correct

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