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The following data were taken from the record of Best Company: Beginning ? Inventories Raw Materials Work in progress Finished Goods Ending 50,000 95,000 78,000
The following data were taken from the record of Best Company: Beginning ? Inventories Raw Materials Work in progress Finished Goods Ending 50,000 95,000 78,000 80,000 60,000 Raw materials purchases P46,000 Factory overhead, P63,000 which is 75% of direct labor cost Selling and Administrative Expenses, 12.5% of sales, P25,000 Net Income for September, P25,000 What is the cost of raw materials inventory at the beginning of the period
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