Post Utme Covenant University 2023 Accounting Question 33

Practice objective / multiple choice question 33 from the 2023 Post Utme Covenant University Accounting examination.

Post Utme Covenant University 2023 Accounting Objective / Multiple Choice
Question 33 POST_UTME_COVENANT_UNIVERSITY • 2023 • ACCOUNTING • objective

A company uses the perpetual inventory system. The cost of goods sold for the year is ₦500,000. The beginning inventory is ₦200,000, and the ending inventory is ₦150,000. Calculate the cost of goods sold using the periodic inventory system.

Answer Options

A. ₦450,000
Correct Answer B. ₦475,000
C. ₦500,000
D. ₦525,000
Correct Answer
B
Correct Option:
₦475,000

About This Question

This is Post Utme Covenant University 2023 Accounting Question 33. It is one of the objective questions from the 2023 Post Utme Covenant University Accounting examination.

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