PackNow manufactures backpacks. Its plant records include the following materials$-$related transactions:

View the transactions.

Make the journal entries to record these transactions. Post these transactions to the Raw Materials Inventory account. If the company had $$38,000$ of Raw Materials Inventory at the beginning of the period, what is the ending balance of Raw Materials Inventory? $($Assume that thread is considered an indirect material.$)$

Begin by recording the journal entry for the purchases of materials. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Now post the transactions to the Raw Materials Inventory account. If the company had $$30,000$ of Raw Materials Inventory at the beginning of the period, what is the ending balance of Raw Materials Inventory?

Enter the beginning balance of the Raw Materials Inventory T$-$account on the first line, then post the transactions and calculate the ending balance. $($Use transaction descriptions as posting references when postiong the transactions to the account.$)$

$\backslash$table$[[$Raw Materials Inventory$],[$Beg Bal,$30,000,,],[$Purchased$,68,500,$Used,$50000],[$End Bal,,,$]]$