Question
Elm Manufacturing Company (ELM) is a small manufacturer of backpacks located in Rochelle, Illinois. You have access to ELM's electronic records via the links shown
Elm Manufacturing Company (ELM) is a small manufacturer of backpacks located in Rochelle, Illinois. You have access to ELM's electronic records via the links shown below, which include the Sales 2017 - 4th Quarter data set, the Purchases 2017 - 4th Quarter data set, the Inventory Count data set, the Ending Inventory Balances 2017 - 3rd Quarter data set, the Finished Goods Production 2017 - 4th Quarter data set, the Production Bill of Raw Materials data set, and the Combined Materials and Supplies Vendor Price List data set. You will also require the 2017 ELM Production Cycle Supplementary Information document. Detailed information about ELM, instructions for accessing datasets, and a data directory for data sets can also be found below. Required Data Files: Chapter 9 ELM Files (click to download a .zip file) Student Setup Guide for Ex. 9.70 9.73 You have been assigned the task of recalculating the clients Raw Materials ending inventory quantity based on purchase and manufacturing records and comparing it to the year-end inventory count. You may assume there is no Work-in-Process inventory as of year-end.
Required:Using the information above, complete all of the related steps shown below using IDEA. After completing each step, answer each question by supplying the required information.
a. Calculate the total year end quantity for Raw Materials Inventory (Hint: Beginning Balance + Purchases Used in Production = Ending Balance. Dont forget that you should only include purchases that have been received in calculating purchases. Column TYPE in 3rd q inventory database will be helpful for extracting relevant records.)
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