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Consider the following taken from a schedule of cost of goods manufactured: Raw-material inventory, $45,000 beginning Purchases of raw materials $280,000 Raw material used $225,000
Consider the following taken from a schedule of cost of goods manufactured: Raw-material inventory, $45,000 beginning Purchases of raw materials $280,000 Raw material used $225,000 Direct labor $300,000 Total manufacturing $450,000 overhead Total manufacturing costs $975,000 What was the amount of the ending raw-material inventory? $55,000 O $65,000 $15,000 O $100,000 None of the above
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