Post Utme Esut 2018 Accounting Question 29

Practice objective / multiple choice question 29 from the 2018 Post Utme Esut Accounting examination.

Post Utme Esut 2018 Accounting Objective / Multiple Choice
Question 29 POST_UTME_ESUT • 2018 • ACCOUNTING • objective

A company has the following ledger balances: Raw Materials ₦150,000, Work-in-Progress ₦120,000, and Finished Goods ₦80,000. If the company uses the LIFO method, what is the value of Cost of Goods Sold?

Answer Options

A. ₦350,000
Correct Answer B. ₦450,000
C. ₦550,000
D. ₦650,000
Correct Answer
B
Correct Option:
₦450,000

About This Question

This is Post Utme Esut 2018 Accounting Question 29. It is one of the objective questions from the 2018 Post Utme Esut Accounting examination.

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