Use the information to answer this questionDate.............Details........................ Feb........1 Purchased 400 units at ₦1.00 each ,, ........5 Purc...

Assessment: JAMB UTME - Principles of Accounts - 2003 Subject: Financial Accounting

Question 1 Report

Use the information to answer this questionDate.............Details........................

Feb........1 Purchased 400 units at ₦1.00 each

,, ........5 Purchased 200 units at ₦2.00 each

,,.........10 Purchased 200 units at ₦300 each

,, .........15 Issued 320 units

,,..........20 Issued 200 units at ₦4,00 each

,,..........25 Issued 120 unitsUsing the periodic simple average method, the cost per unit is

₦4.25

₦3.25

₦2.25

₦1.25

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