Question
Hello, could you please explain the question below? If the beginning balance in the Raw Materials Inventory account for May was $27,500, the ending balance
Hello, could you please explain the question below?
If the beginning balance in the Raw Materials Inventory account for May was $27,500, the ending balance in the same account for May was $28,750, and $128,900 of materials were used during the month, the materials purchased during the month cost (CMA adapted)?
Why is the answer 130150 rather than 127650? Isn't the formula [manufacturing cost + beg. bal- ending balance] right?
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Financial and Managerial Accounting
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
3rd edition
978-1-119-3916, 1119392132, 1119392136, 9781119391609, 1119391601, 978-1119392132
