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SM Co. reports beginning raw materials inventory of $855 million and ending raw materials inventory of $717 million 3M purcha
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Answer #1

Raw material used (consumed) =Raw material at beginning of the year +Raw material purchased during the year - Raw material at end of the year.

Application of above equation

Raw material used=($855+$3646-$717=$3784)millions

So the Raw material used by 3M Co during the year is $3784 millions.

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