Accounts - Principles of Accounts
JAMB 2003
Use the information to answer this question
Date.............Details........................
Feb........1 Purchased 400 units at N1.00 each
,, ........5 Purchased 200 units at N2.00 each
,,.........10 Purchased 200 units at N300 each
,, .........15 Issued 320 units
,,..........20 Issued 200 units at N4,00 each
,,..........25 Issued 120 units
Calculate the price per unit of closing stock using the periodic weighted average method.
-
A.
N3.20
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B.
N3.00
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C.
N2.20
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D.
N2.00
Correct Answer: Option D
Explanation
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