Post Utme Covenant University 2019 Accounting Question 39

Practice objective / multiple choice question 39 from the 2019 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2019 Accounting Objective / Multiple Choice
Question 39 POST_UTME_COVENANT_UNIVERSITY • 2019 • ACCOUNTING • objective

A company's accounting policy is to value its inventory at the lower of cost and net realizable value. The company's inventory is valued at ₦50,000 at the beginning of the year and ₦75,000 at the end of the year. What is the total amount of inventory written off during the year?

Answer Options

A. ₦25,000
Correct Answer B. ₦50,000
C. ₦75,000
D. ₦100,000
Correct Answer
B
Correct Option:
₦50,000

About This Question

This is Post Utme Covenant University 2019 Accounting Question 39. It is one of the objective questions from the 2019 Post Utme Covenant University Accounting examination.

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