Given:

Sales ............................N195,200
Stock 1st January.................N34,000
Purchases ........................N126,000
Sales returns ....................N1,200
Purchases returns ................N2,000
If the gross profit is N66,000, what is the value of stock at 31st December?

• A.N30,000
• B.N40,000
• C.50,000
• D.N20,000
• E.