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23 May, 18:25

The following information relates to the manufacturing operations of the JNR Printing Company for the year: Beginning Ending Raw materials inventory $ 55,000 $ 58,000 Finished goods 66,000 58,000 The raw materials used in manufacturing during the year totaled $116,000. Raw materials purchased during the year amount to:

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  1. 23 May, 18:27
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    Answer: $119,000

    Explanation:

    Given that,

    Beginning Ending

    Raw materials inventory = $ 55,000 $ 58,000

    Finished goods = $66,000 $58,000

    Raw materials used in manufacturing during the year = $116,000

    Raw materials purchased during the year:

    = Ending Raw materials + Raw materials used - beginning raw material

    = $ 58,000 + $116,000 - $ 55,000

    = $119,000
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