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2h Notice that the Raw Material Inventory account has a beginning and ending balance provided; $420,000 and $350,000, respectively. Calculate the amount of raw material
2h
Notice that the Raw Material Inventory account has a beginning and ending balance provided; $420,000 and $350,000, respectively. Calculate the amount of raw material that would have been purchased to increase the account using the T account logic: Beginning + Increases - Decreases = Ending. What would the journal entry be assuming these purchases were made on the account.
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