S. Samanyika Toy Products had opening raw material stock of $11 400, purchases of raw materials of $54 000, and closing raw material stock of $1 400 for the year ended 31 December 2009. What was the cost of raw materials consumed?

Model answer

$64 000

Also accepted: 64000, 64 000

Explanation

$11 400 + $54 000 - $1 400 = $64 000.

Derived from ZIMSEC Principles of Accounts 7112/2 Paper 2, June 2014, Q3

More questions from this paper

Danho has every sitting for this paper, with your progress tracked question by question, offline.