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1 July, 05:10

Andrew Industries purchased $172,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $23,400, and the materials used to complete jobs during the month were $147,300 of direct materials and $13,700 of indirect materials. What is the ending Raw Materials Inventory balance for March?

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  1. 1 July, 05:19
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    ending inventory = $34,400

    Explanation:

    Giving the following information:

    Purchase = $172,000

    Beginning Raw Materials = $23,400

    Materials used = $147,300 of direct materials and $13,700 of indirect materials. (161,000)

    To calculate the raw materials ending inventory, we need to use the following formula:

    Direct material used = beginning inventory + purchases - ending inventory

    161,000 = 23,400 + 172,000 - ending inventory

    ending inventory = 23,400 + 172,000 - 161,000

    ending inventory = $34,400
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Home » Business » Andrew Industries purchased $172,000 of raw materials on account during the month of March. The beginning Raw Materials Inventory balance was $23,400, and the materials used to complete jobs during the month were $147,300 of direct materials and
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