- 1 Marks
FA – May 2024 – L1 – SA – Q7 – Accounting for Inventories (IAS 2)
Calculates inventory withdrawn during a period.
Question
How much inventory did the owner of the shop withdraw during the period, if the opening and closing inventories for resale were ₦56,250 and ₦48,750 respectively, and there were no sales during the period?
A. ₦5,750
B. ₦6,500
C. ₦7,250
D. ₦7,500
E. ₦8,000
Find Related Questions by Tags, levels, etc.
- Tags: Inventory Accounting, Inventory Management, Inventory Withdrawal
- Level: Level 1
- Topic: Accounting for Inventories (IAS 2)
- Series: MAY 2024
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