Post Utme Summit University 2021 Accounting Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Summit University Accounting examination.

Post Utme Summit University 2021 Accounting Objective / Multiple Choice
Question 10 POST_UTME_SUMMIT_UNIVERSITY • 2021 • ACCOUNTING • objective

A company uses the weighted average method of inventory valuation. If the cost of the inventory is ₦100,000, the retail price is ₦120,000, and the number of units sold is 500, determine the cost of goods sold.

Answer Options

A. ₦50,000
B. ₦60,000
Correct Answer C. ₦70,000
D. ₦80,000
Correct Answer
C
Correct Option:
₦70,000

About This Question

This is Post Utme Summit University 2021 Accounting Question 10. It is one of the objective questions from the 2021 Post Utme Summit University Accounting examination.

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