WAEC Financial Accounting 2010 Question 22

Use the following information to answer questions 22 to 24.
Opening stock of raw materials: ₦24,750
Purchases of raw materials: ₦123,640
Carriage on raw materials: ₦10,000
Closing stock of raw materials: ₦45,000
Factory supervisor's salary: ₦30,000
Wages of factory hands: ₦50,000
Royalties paid: ₦18,000
Insurance of factory: ₦62,000
Work-in-progress (opening): ₦23,000
Raw material returned: ₦12,200

The value of raw material consumed is

1. A.₦121,440
2. B.₦113,390
3. C.₦111,190
4. D.₦101,190