Post Utme Ims U 2021 Accounting Question 40
Practice objective / multiple choice question 40 from the 2021 Post Utme Ims U Accounting examination.
A company uses the perpetual inventory system. On January 1, the inventory balance was ₦50,000. During the year, purchases were ₦200,000 and sales were ₦300,000. If the cost of goods sold is 25% of the sales, what is the inventory balance on December 31?
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About This Question
This is Post Utme Ims U 2021 Accounting Question 40. It is one of the objective questions from the 2021 Post Utme Ims U Accounting examination.
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