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The following data were taken from the records of Westbrooks Company: INVENTORIES Aug. 31, 2020 Sept. 30, 2020 Raw Materials 00? 50,000 Work-in-Process 80,000 95,000
The following data were taken from the records of Westbrooks Company:
INVENTORIES Aug. 31, 2020 Sept. 30, 2020
Raw Materials 00? 50,000
Work-in-Process 80,000 95,000
Finished Goods 60,000 78,000
Additional Information:
Raw materials purchased 46,000
Factory overhead, 75% of direct labor cost 63,000
Selling and administrative expenses, 12.5% of sales 25,000
Net Income for September 2020 25,000
What is the cost of raw materials inventory on August 31, 2020
pls provide solution
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