Post Utme Veritas University 2022 Accounting Question 28

Practice objective / multiple choice question 28 from the 2022 Post Utme Veritas University Accounting examination.

Post Utme Veritas University 2022 Accounting Objective / Multiple Choice
Question 28 POST_UTME_VERITAS_UNIVERSITY • 2022 • ACCOUNTING • objective

A company uses the weighted average method to value its inventory. The following data are available for the year ended December 31, 2022: Cost of goods available for sale: ₦1,500,000; Net realizable value of ending inventory: ₦1,200,000; Beginning inventory: ₦800,000. Calculate the cost of goods sold using the weighted average method.

Answer Options

A. ₦1,000,000
Correct Answer B. ₦1,200,000
C. ₦1,500,000
D. ₦1,800,000
Correct Answer
B
Correct Option:
₦1,200,000

About This Question

This is Post Utme Veritas University 2022 Accounting Question 28. It is one of the objective questions from the 2022 Post Utme Veritas University Accounting examination.

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