The market value of goods produced is?

Assessment: JAMB UTME - Principles of Accounts - 2020 Subject: Financial Accounting

Question 1 Report

The market value of goods produced is?
Answer Details

If you have a specific market value for each unit of goods produced and you know the total number of units produced, you can calculate the total market value by multiplying the market value per unit by the total number of units.


Let's assume the market value per unit is N30.60 and the total number of units produced is 1,000.


Market value = Market value per unit × Total number of units Market value = N30.60/unit × 1,000 units Market value = N30,600


And so, the correct answer would be option B. N30,600.

Read lesson note on Stock Valuation (JAMB)
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