Inventory Accounts for a Manufacturing Company

1. Fujita Company produces a single product. Costs accumulated at the end of the period are as follows:

   Raw material purchases	$54,000		Production supervisor's salary	$20,000
   Depreciation on manufacturing equipment	3,000		Shipping costs on units sold	43,500
   Sales commissions	20,000		Materials used in production	85,900
   Factory labor	36,000		Goods completed	115,000
   Property tax on manufacturing equipment	3,500		Cost of units sold	150,000

   Assume the beginning raw materials inventory was $64,900, the beginning finished goods inventory was $115,600, and there was no beginning work-in-process inventory.

   Required:

   Compute the closing account balances of each of the three inventory accounts: Raw Materials, Work in Process, and Finished Goods. If an answer is zero, enter "0".

   Closing account balances
   Raw Materials
   	$fill in the blank 2
   	fill in the blank 4
   	$fill in the blank 6
   	fill in the blank 8
   Closing balance	$fill in the blank 9
   Work in Process
   	$fill in the blank 11
   	fill in the blank 13
   	fill in the blank 15
   	fill in the blank 17
   	fill in the blank 19
   	fill in the blank 21
   	$fill in the blank 23
   	fill in the blank 25
   Closing balance	$fill in the blank 26
   Finished Goods
   	$fill in the blank 28
   	fill in the blank 30
   	$fill in the blank 32
   	fill in the blank 34
   Closing balance	$fill in the blank 35