Post Utme Unilag 2022 Accounting Question 11

Practice objective / multiple choice question 11 from the 2022 Post Utme Unilag Accounting examination.

Post Utme Unilag 2022 Accounting Objective / Multiple Choice
Question 11 POST_UTME_UNILAG • 2022 • ACCOUNTING • objective

A company uses the percentage of sales method to value its inventory. If the company's sales for the year were ₦1,500,000 and the beginning inventory was ₦300,000, and the ending inventory was ₦450,000, what is the cost of goods sold?

Answer Options

A. ₦1,200,000
Correct Answer B. ₦1,350,000
C. ₦1,500,000
D. ₦1,650,000
Correct Answer
B
Correct Option:
₦1,350,000

About This Question

This is Post Utme Unilag 2022 Accounting Question 11. It is one of the objective questions from the 2022 Post Utme Unilag 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