Opec Ltd Manufactures Crystal Balls

Multiple Choice

Opec Ltd manufactures crystal balls.Transactions for year ended 31 December 2012 were as follows:
(i) 18 000 units at a cost of $20 each were produced.
(ii) 14 000 units were sold at $30 each.
(iii) Cash was collected on 10 000 of those units sold.
What was the reported profit for the year 2009?

A) $100 000
B) $140 000
C) $180 000
D) $350 000.