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Cottonwood, Inc. has the following information regarding its Raw Materials Inventory account:Direct ...
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Cottonwood, Inc. has the following information regarding its Raw Materials Inventory account:Direct ...
Cottonwood, Inc. has the following information regarding its Raw Materials Inventory account:
Direct materials used during the month
$672,700
Raw materials purchased during the month
683,200
Ending balance, Raw Materials Inventory
21,250
The company uses the Raw Materials Inventory account only for direct materials. What is the beginning balance of Cottonwood's Raw Materials Inventory account?
▸ $693,950
▸ $10,750
▸ $661,950
▸ $31,750
Textbook
Managerial Accounting
Edition:
4
th
Author:
Davis
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More solutions for this book are
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$10,750
X + $683,200 − $672,700 = $21,250; X = $10,750
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