Use the information below to answer questions 20 and 21.

Jan. 1 Received 1,000 units at N10 each
Jan. 2 Received 2,000 units at N12 each
Jan. 3 Issued 1,500 units
Jan. 4 Received 1,000 units at N11 each
Jan. 5 Issued 1,000 units

Using FIFO method, what is the value of the closing stock?

• A.N34,000
• B.N29,000
• C.N17,000
• D.N12,000
• E.