Post Utme Covenant University 2024 Accounting Question 12
Practice objective / multiple choice question 12 from the 2024 Post Utme Covenant University Accounting examination.
A company uses the perpetual inventory system. On January 1, it had 500 units of inventory with a cost of ₦100 each. During the month, 200 units were sold, and 300 units were purchased at a cost of ₦120 each. Prepare the journal entry to record the purchase and sale of inventory.
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This is Post Utme Covenant University 2024 Accounting Question 12. It is one of the objective questions from the 2024 Post Utme Covenant University Accounting examination.
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