Post Utme Covenant University 2021 Accounting Question 6
Practice objective / multiple choice question 6 from the 2021 Post Utme Covenant University Accounting examination.
A company uses the perpetual inventory system. On January 1, 2022, it had 1,000 units of a product on hand at a cost of ₦100 per unit. During the year, 500 units were sold at ₦200 each. On December 31, 2022, 200 units were on hand. Calculate the cost of goods sold for the year.
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About This Question
This is Post Utme Covenant University 2021 Accounting Question 6. It is one of the objective questions from the 2021 Post Utme Covenant University Accounting examination.
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