Question 1 Report
Use the information below to answer questions 29 and 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.....................₦1,000Determine the gross profit?