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Use the information below to answer question 28 and 29. Raw materials inventory at the...

Accounts - Principles of Accounts
JAMB 1998

Use the information below to answer question 28 and 29.
Raw materials inventory at the beginning of a period was N 46,800 and at the close of the period there was a balance of N38,600. From the purchases made during the period, defective materials costing N9,200 were returned. Cost of materials consumed during the period was N448,500.
What was the total purchases made during the period?
  • A. N497,100
  • B. N457,700
  • C. N449,500
  • D. N440,300
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Correct Answer: Option C
Explanation
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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789