Question
ABC Company has provided the following data for the month of November: Inventories November 1 November 30 Raw materials ................... $15,000 ? Work in process
ABC Company has provided the following data for the month of November:
Inventories | November 1 | November 30 | |
Raw materials ................... | $15,000 | ? | |
Work in process ............... | 12,000 | 10,000 | |
Finished goods ................. | ? | 7,000 | |
Additional Data: Sales revenue................................... | $100,000 | ||
Direct labor costs ............................. | 8,000 | ||
Manufacturing overhead costs ......... | 10,000 | ||
Selling expenses ............................... | 12,000 | ||
Administrative expenses .................. | 13,000 | ||
Cost of goods manufactured ............ | 30,000 | ||
Raw materials purchases .................. | 9,000 | ||
- Calculate the ending raw materials inventory.
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