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d) Six pounds of raw materials are required to complete one unit of product. The company requires an ending inventory of raw materials on hand

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d) Six pounds of raw materials are required to complete one unit of product. The company requires an ending inventory of raw materials on hand at the end of each quarter equal to 10% of the production needs of the following quarter. On December 31, Year 1, the company had 23,000 pounds of raw materials on hand

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