Post Utme Eksu 2023 Accounting Question 35

Practice objective / multiple choice question 35 from the 2023 Post Utme Eksu Accounting examination.

Post Utme Eksu 2023 Accounting Objective / Multiple Choice
Question 35 POST_UTME_EKSU • 2023 • ACCOUNTING • objective

A company uses the FIFO method to value its inventory. If the cost of goods available for sale is ₦1,500,000, the total cost of the beginning inventory is ₦300,000, and the total cost of the purchases made during the period is ₦1,200,000, what is the cost of goods sold?

Answer Options

A. ₦1,200,000
B. ₦1,300,000
Correct Answer C. ₦1,400,000
D. ₦1,500,000
Correct Answer
C
Correct Option:
₦1,400,000

About This Question

This is Post Utme Eksu 2023 Accounting Question 35. It is one of the objective questions from the 2023 Post Utme Eksu Accounting examination.

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