Cameroon GCE A-Level Accounting Practice Questions - Cameroon General Certificate Of Education Advanced Level - Accounting (Subject Code 0705) Exam

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A firm manufactures finished goods at a cost of 50,000,000 FCFA and transfers them to the sales warehouse at factory cost plus a 20% manufacturing markup. At year-end, 15% of these goods remain unsold in closing inventory. What is the provision for unrealized profit on closing inventory?

1,500,000 FCFA 1,800,000 FCFA 2,000,000 FCFA 1,250,000 FCFA

Correct Answer:

1,500,000 FCFA

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