1 answer

The following information relates to the manufacturing operations : Beginning Ending Raw materials inventory $ 61,000​...

Question:

The following information relates to the manufacturing operations :

Beginning Ending
Raw materials inventory $ 61,000​ $ 64,000​
Finished goods 72,000​ 64,000​

The raw materials used in manufacturing during the year totaled $122,000. Raw materials purchased during the year amount to:


Answers

Raw materials inventory beginning = $61,000

Raw materials inventory Ending = $64,000

Raw materials used = $122,000

Raw materials used = Raw materials inventory beginning + Raw materials purchase - Raw materials inventory Ending

122,000 = 61,000+Raw materials purchase- 64,000

Raw materials purchase = $125,000

Finished goods inventory is not required to calculated raw materials purchase, hence it has been ignored.

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