Post Utme Unilorin 2023 Accounting Question 7
Practice objective / multiple choice question 7 from the 2023 Post Utme Unilorin Accounting examination.
A company uses the periodic inventory system. On January 1, 2022, it had 1,000 units of a product on hand at a cost of ₦100 per unit. During the year, 500 units were sold at ₦200 per unit. On December 31, 2022, 200 units were on hand at a cost of ₦120 per unit. What is the cost of goods sold for the year?
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About This Question
This is Post Utme Unilorin 2023 Accounting Question 7. It is one of the objective questions from the 2023 Post Utme Unilorin Accounting examination.
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