Post Utme Covenant University 2024 Accounting Question 16
Practice objective / multiple choice question 16 from the 2024 Post Utme Covenant University Accounting examination.
A company uses the weighted average method to value its inventory. The company has three types of inventory: raw materials, work-in-progress, and finished goods. The raw materials inventory has a cost of ₦120,000 and a quantity of 1,000 units. The work-in-progress inventory has a cost of ₦150,000 and a quantity of 500 units. The finished goods inventory has a cost of ₦180,000 and a quantity of 200 units. If the company uses a weighted average method to value its inventory, what is the total value of the inventory?
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About This Question
This is Post Utme Covenant University 2024 Accounting Question 16. It is one of the objective questions from the 2024 Post Utme Covenant University Accounting examination.
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