JAMB Principles of Accounts 2009 Question 30

Work-in-progress 1/1 1,000
Work-in-progress 31/12 2,000
Production cost of goods manufactured 20,000
Sales 50,000
Stock of finished goods 1/1 4,000
Stock of finished goods 31/12 5,000
Selling and distribution expenses 2,000
Administrative expenses 1,000
What is the net profit?

1. A.₦46,000
2. B.₦45,000
3. C.₦28,000
4. D.₦27,000