Post Utme Joseph Ayo Babalola University 2025 Accounting Question 1
Practice objective / multiple choice question 1 from the 2025 Post Utme Joseph Ayo Babalola University Accounting examination.
A manufacturing company uses the weighted average method to value its inventory. The company has two types of inventory: raw materials and work-in-progress. The raw materials are valued at ₦120,000 and the work-in-progress is valued at ₦180,000. The company has a total of 10,000 units of raw materials and 5,000 units of work-in-progress. If the company uses a cost formula of 2/3 direct materials + 1/3 direct labor, what is the total value of the inventory?
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This is Post Utme Joseph Ayo Babalola University 2025 Accounting Question 1. It is one of the objective questions from the 2025 Post Utme Joseph Ayo Babalola University Accounting examination.
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