Following information is extracted from the books of a manufacturing concern on 31st December Opening stock of raw material 13,000 Furniture and Fixtures 72,000 Plant and Machinery 98,000

Bank charges 5,453 Cash in hand 12,800 Cost of material available for use 62,000 Opening inventory of finished goods 8,000 Cost of direct material used 50,000 Sundry creditors 54,000 Direct labour cost 10,000 Sundry debtors 20,000 Factory overhead cost 5,000 Loan taken from bank 44,300 Sales 85,000 Cost of goods available for sale 75,000 Gross profit 21,000 Required: Based on the above information, you are required to calculate the amount of: 1. Purchases 2. Prime cost 3. Cost of goods manufactured 4. Conversion cost 5. Cost of goods sold