Day: November 6, 2021

You are given the following information on 31 December 2020 by Alex, a sole trader.

Unsold stock on 31 December 2020 was valued at £1,000 more than on 1 January 2020.

What is the cost of sales?

Select ONE answer:

1. £86 000
2. £87 000
3. £89 000
4. £97 000

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 2

1. Not correct ==> £95K – £1k – £3k – £5k
2. Correct ==> £95K – £1k – £2k – £5k
3. Not correct ==> £95K + £1k – £2k – £5k
4. Not correct

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