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Chapter 1 6 Analyze manufacturing accounts and determine missing amounts Phillips Corporation's fiscal year ends on November 3 0 . The following accounts are found

Chapter 16 Analyze manufacturing accounts and determine missing amounts
Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year.
Raw Materials Inventory
\table[[\table[[Dec.1],[31]],\table[[Beginning balance],[Purchases]],\table[[(a)],[17,225]],Dec. 31 Requisitions,$16,850
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