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2 January, 20:55

Andrew Industries purchased $173,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $23,600, and the materials used to complete jobs during the month were $148,200 of direct materials and $13,800 of indirect materials. What is the ending Raw Materials Inventory balance for March

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  1. 2 January, 21:13
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    The ending Raw Materials Inventory balance for March is $34,600

    Explanation:

    Raw material inventory is the inventory of those material which will be used in the processing of the production of a product. It includes direct material and indirect material as well.

    The ending raw material will be calculated as follow

    Ending Raw Material = Beginning raw material + Purchases for the period - material used in the period

    Ending Raw Material = $23,600 + $173,000 - ($148,200 + $13,800)

    Ending Raw Material = $23,600 + $173,000 - $162,000

    Ending Raw Material = $196,600 - $162,000

    Ending Raw Material = $34,600
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Home » Business » Andrew Industries purchased $173,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $23,600, and the materials used to complete jobs during the month were $148,200 of direct materials and
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