Post Utme Bells University 2017 Accounting Question 28

Practice objective / multiple choice question 28 from the 2017 Post Utme Bells University Accounting examination.

Post Utme Bells University 2017 Accounting Objective / Multiple Choice
Question 28 POST_UTME_BELLS_UNIVERSITY • 2017 • ACCOUNTING • objective

A company uses the perpetual inventory system to value its inventory. The following data is available for the year ended December 31, 2022: Beginning inventory: ₦800,000; Purchases: ₦1,200,000; Sales: ₦2,000,000. What is the cost of goods sold for the year?

Answer Options

A. ₦1,000,000
B. ₦1,100,000
Correct Answer C. ₦1,200,000
D. ₦1,300,000
Correct Answer
C
Correct Option:
₦1,200,000

About This Question

This is Post Utme Bells University 2017 Accounting Question 28. It is one of the objective questions from the 2017 Post Utme Bells University Accounting examination.

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