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Micker Boots produces cowboy boots, Its Raw Materials account contains only direct materials. If the ending balance in Raw Materials Inventory is $3,500, $60,000 was
Micker Boots produces cowboy boots, Its Raw Materials account contains only direct materials. If the ending balance in Raw Materials Inventory is $3,500, $60,000 was purchased, and $61,500 was transferred to Work in Process Inventory during the period, what was the amount in beginning inventory?
a. $1,500
b. $2,000
c. $3,500
d. $5,000
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