Use the following information to answer the given question

MANUFACTURING AND TRADING ACCOUNTS

$\begin{array}{c|c} & N & & N \\ \hline \text{Opening raw material} & 10,000 & \text{Manufacturing cost} & 114,000 \\ purchases & 60,000 \\ & \overline{70,000} & & \\ \text{Less: Closing raw material} & 8,000 & & \\ & \overline{62,000} & & \\ \text{Direct labour} & 20,000 & & \\ \text{Direct expenses} & 20,000 & & \\ \text{Factory overhead} & 12,000 & & \\ & \overline{114,000} & & \overline{114,000} \\ & & & \text{_______} \\ \text{Stock b/d} & \overline{10,000} & sales & X \\ Purchases & X & \text{Less sales returns} & 5,000 \\ \text{Manufacturing cost} & 114,000 & & \\ & \overline{144,000} & & \\ \text{Stock c/d} & 12,000 & & \\ & \overline{132,000} & & \\ \text{Gross profit 20% on sales } & \text{_______} & & \text{_______}\\ & X & & X \end{array}$

What is the net sales for the period?

Similar Questions

At the end of a financial period, the trading profit and loss account of a sole trader shows a profi...

July 1 - Started business with #10,500 July 31- Paid Agro machine x #6,000 owing them The double...

A non-profit-making organization differs from a profit-making one in that? ...

The document evidencing a disbursement of government fund is known as ...

The assets of business can be classified broadly into ...

The balance of the sales account is transferred to the trading account by ...

Purchase of goods for N1,000 from chukwu had been entered in Chukwura's account. This is an erro...

Why are adjustments in the profit and loss account necessary? ...

Which of the following is not a proper form of the accounting equation? ...

As a basis for assessing future usage, fixed assets are shown at ...