Post Utme Rsu 2020 Accounting Question 22

Practice objective / multiple choice question 22 from the 2020 Post Utme Rsu Accounting examination.

Post Utme Rsu 2020 Accounting Objective / Multiple Choice
Question 22 POST_UTME_RSU • 2020 • ACCOUNTING • objective

A company uses the FIFO method to value its inventory. If the inventory consists of 100 units of item A and 50 units of item B, and the cost of item A is ₦10,000 and item B is ₦20,000, what is the cost of goods sold?

Answer Options

A. ₦1,000,000
Correct Answer B. ₦1,200,000
C. ₦1,500,000
D. ₦1,800,000
Correct Answer
B
Correct Option:
₦1,200,000

About This Question

This is Post Utme Rsu 2020 Accounting Question 22. It is one of the objective questions from the 2020 Post Utme Rsu Accounting examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support