Use the information below to answer questions 29 and 30.
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
Answer is C
