Post Utme Ui 2024 Accounting Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Ui Accounting examination.

Post Utme Ui 2024 Accounting Objective / Multiple Choice
Question 3 POST_UTME_UI • 2024 • ACCOUNTING • objective

A company uses the perpetual inventory system. On January 1, 2024, it had 100 units of a product on hand at a cost of ₦10 each. During the year, 50 units were sold, and 20 units were purchased at a cost of ₦12 each. What is the total cost of goods sold for the year?

Answer Options

A. ₦500
Correct Answer B. ₦600
C. ₦700
D. ₦800
Correct Answer
B
Correct Option:
₦600

About This Question

This is Post Utme Ui 2024 Accounting Question 3. It is one of the objective questions from the 2024 Post Utme Ui Accounting examination.

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