Use the following information to answer the given questio...
Use the following information to answer the given question
MANUFACTURING AND TRADING ACCOUNTS
NNOpening raw material10,000Manufacturing cost114,000purchases60,000¯70,000Less: Closing raw material8,000¯62,000Direct labour20,000Direct expenses20,000Factory overhead12,000¯114,000¯114,000_______Stock b/d¯10,000salesXPurchasesXLess sales returns5,000Manufacturing cost114,000¯144,000Stock c/d12,000¯132,000Gross profit 20% on sales ______________XX
What is the cost finished goods purchased?
N60,000
N50,000
N140,000
N30,000
N20,000
Correct answer is E
No explanation has been provided for this answer.
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