Post Utme Redeemers University 2018 Accounting Question 33

Practice objective / multiple choice question 33 from the 2018 Post Utme Redeemers University Accounting examination.

Post Utme Redeemers University 2018 Accounting Objective / Multiple Choice
Question 33 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • ACCOUNTING • objective

A company uses the FIFO method of inventory valuation. If the company purchases 100 units of an item at ₦50 each and 50 units at ₦60 each, and sells 120 units at ₦70 each, calculate the cost of goods sold.

Answer Options

A. ₦9,000
B. ₦10,000
C. ₦11,000
Correct Answer D. ₦12,000
Correct Answer
D
Correct Option:
₦12,000

About This Question

This is Post Utme Redeemers University 2018 Accounting Question 33. It is one of the objective questions from the 2018 Post Utme Redeemers University Accounting examination.

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