Post Utme Caleb University 2024 Accounting Question 38
Practice objective / multiple choice question 38 from the 2024 Post Utme Caleb University Accounting examination.
A company uses the perpetual inventory system. On January 1, 2024, it had 500 units of a product in stock, valued at ₦1,500 each. On January 15, 2024, 200 units were sold for ₦3,000 each. On February 1, 2024, 300 units were purchased for ₦2,000 each. On March 1, 2024, 100 units were sold for ₦3,500 each. On April 1, 2024, 200 units were purchased for ₦2,500 each. The company uses the FIFO method to value inventory. What is the total value of inventory on April 1, 2024?
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About This Question
This is Post Utme Caleb University 2024 Accounting Question 38. It is one of the objective questions from the 2024 Post Utme Caleb University Accounting examination.
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