Post Utme Uniport 2024 Accounting Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Uniport Accounting examination.

Post Utme Uniport 2024 Accounting Objective / Multiple Choice
Question 34 POST_UTME_UNIPORT • 2024 • ACCOUNTING • objective

A company uses the perpetual inventory system. On January 1, 2024, it had 500 units of a product on hand at a cost of ₦100 per unit. During the year, 300 units were sold, and 200 units were purchased at ₦120 per unit. Calculate the cost of goods available for sale for the year.

Answer Options

A. ₦50,000
B. ₦55,000
Correct Answer C. ₦60,000
D. ₦65,000
Correct Answer
C
Correct Option:
₦60,000

About This Question

This is Post Utme Uniport 2024 Accounting Question 34. It is one of the objective questions from the 2024 Post Utme Uniport Accounting examination.

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