Post Utme Covenant University 2021 Accounting Question 22

Practice objective / multiple choice question 22 from the 2021 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2021 Accounting Objective / Multiple Choice
Question 22 POST_UTME_COVENANT_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the weighted average method to value its inventory. The cost of goods available for sale is ₦1,200,000, and the total cost of the opening inventory is ₦300,000. If the company uses a perpetual inventory system, what is the cost of goods sold?

Answer Options

A. ₦900,000
B. ₦1,000,000
Correct Answer C. ₦1,050,000
D. ₦1,100,000
Correct Answer
C
Correct Option:
₦1,050,000

About This Question

This is Post Utme Covenant University 2021 Accounting Question 22. It is one of the objective questions from the 2021 Post Utme Covenant University Accounting examination.

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