Post Utme Esut 2018 Accounting Question 40

Practice objective / multiple choice question 40 from the 2018 Post Utme Esut Accounting examination.

Post Utme Esut 2018 Accounting Objective / Multiple Choice
Question 40 POST_UTME_ESUT • 2018 • ACCOUNTING • objective

A company has the following data for the year ended December 31, 2022: Sales ₦2,000,000; Cost of goods sold ₦1,200,000; Beginning inventory ₦400,000; Ending inventory ₦600,000. What is the gross profit for the year?

Answer Options

A. ₦800,000
B. ₦900,000
Correct Answer C. ₦1,000,000
D. ₦1,100,000
Correct Answer
C
Correct Option:
₦1,000,000

About This Question

This is Post Utme Esut 2018 Accounting Question 40. It is one of the objective questions from the 2018 Post Utme Esut Accounting examination.

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