Accounts (Principles of Accounts)Manufacturing accountsJAMB
Total factory cost is ₦400,000, opening work in progress ₦20,000 and closing work in progress ₦30,000. Find the cost of production.
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Answer: C. ₦390,000
400,000 + 20,000 − 30,000 = ₦390,000.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.