Post Utme Igbinedion University 2021 Commerce Question 35

Practice objective / multiple choice question 35 from the 2021 Post Utme Igbinedion University Commerce examination.

Post Utme Igbinedion University 2021 Commerce Objective / Multiple Choice
Question 35 POST_UTME_IGBINEDION_UNIVERSITY • 2021 • COMMERCE • objective

A company uses the FIFO method of inventory valuation. If the company purchases 100 units of goods at ₦100 each and 50 units of goods at ₦120 each, what is the cost of the 50 units of goods purchased at ₦120 each?

Answer Options

A. ₦6,000
Correct Answer B. ₦6,500
C. ₦7,000
D. ₦7,500
Correct Answer
B
Correct Option:
₦6,500

About This Question

This is Post Utme Igbinedion University 2021 Commerce Question 35. It is one of the objective questions from the 2021 Post Utme Igbinedion University Commerce examination.

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