Use the following information to answer the given question
MANUFACTURING AND TRADING ACCOUNTS
$\begin{array}{cccc}& N& & N\\ \text{Opening raw material}& 10,000& \text{Manufacturing cost}& 114,000\\ purchases& 60,000\\ & \overline{70,000}& & \\ \text{Less: Closing raw material}& 8,000& & \\ & \overline{62,000}& & \\ \text{Direct labour}& 20,000& & \\ \text{Direct expenses}& 20,000& & \\ \text{Factory overhead}& 12,000& & \\ & \overline{114,000}& & \overline{114,000}\\ & & & \text{\_\_\_\_\_\_\_}\\ \text{Stock b/d}& \overline{10,000}& sales& X\\ Purchases& X& \text{Less sales returns}& 5,000\\ \text{Manufacturing cost}& 114,000& & \\ & \overline{144,000}& & \\ \text{Stock c/d}& 12,000& & \\ & \overline{132,000}& & \\ \text{Gross profit 20\% on sales }& \text{\_\_\_\_\_\_\_}& & \text{\_\_\_\_\_\_\_}\\ & X& & X\end{array}$
What is the net sales for the period?

A. N175,000
B. N170,000
C. N165,00  
D. N132,000
E. N144,00

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Correct Answer: C