Post Utme Abu 2021 Accounting Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Abu Accounting examination.

Post Utme Abu 2021 Accounting Objective / Multiple Choice
Question 10 POST_UTME_ABU • 2021 • ACCOUNTING • objective

A company uses the FIFO method to value its inventory. If the cost of the items is ₦100,000, the selling price is ₦120,000, and the number of units sold is 500, what is the cost of goods sold?

Answer Options

Correct Answer A. ₦60,000
B. ₦80,000
C. ₦90,000
D. ₦70,000
Correct Answer
A
Correct Option:
₦60,000

About This Question

This is Post Utme Abu 2021 Accounting Question 10. It is one of the objective questions from the 2021 Post Utme Abu Accounting examination.

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