Use the information below to answer questions below
Work-in-progress 1/1........................N1,000
Work-in-progress 31/12......................N2,000
Production cost of goods manufactured.......N20,000
Sales.......................................N50,000
Stock of finished goods 1/1.................N4,000
Stock of finished goods 31/12...............N5,000
Selling and distribution expenses...........N2,000
Administrative expenses.....................N1,000
Determine the gross profit?

A. 49,000
B. 48,000
C. 31,000  
D. 30,000

Show Answer Show Explanation

Correct Answer: C