Multiple Choice Question 97 Concord Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2016 to June 30, 2017 June 30, 2017 June 30, 2016 Raw Materials 2000 kilos 1000 kilos Three kilos of raw materials are needed to produce each unit of finished product. Concord Corporation plans to produce 561000 units during the 2016-2017 fiscal year, how many kilos of materials will the company need to purchase for its production during the year? 1634000 1681000 1680000 1679000