Post Utme Igbinedion University 2024 Accounting Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Igbinedion University Accounting examination.

Post Utme Igbinedion University 2024 Accounting Objective / Multiple Choice
Question 7 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ACCOUNTING • objective

A manufacturing company uses the process cost method to account for its production costs. The company's cost of goods manufactured for the year is ₦1,500,000, and the cost of goods sold is ₦1,800,000. What is the company's gross profit for the year?

Answer Options

A. ₦300,000
Correct Answer B. ₦600,000
C. ₦900,000
D. ₦1,200,000
Correct Answer
B
Correct Option:
₦600,000

About This Question

This is Post Utme Igbinedion University 2024 Accounting Question 7. It is one of the objective questions from the 2024 Post Utme Igbinedion University Accounting examination.

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