Use the information below to answer questions 23 and 24.

Beginning inventory............N?
Purchases......................N?
Ending inventory...............N4,800
Sales..........................N12,800
Wages..........................N1,040
Gross profit...................N5,900

The beginning inventory was estimated at 80% of sales.
Determine the amount for the beginning inventory?

• A.N20,140
• B.N10,240
• C.N8,140
• D.N7,240
• E.