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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

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Managerial Accounting

Edition: 4^th

Author: Davis

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