Homework Answers
Production in February = 3500 units
Ending inventory of January = 3500*20% = 700 units
Ending inventory = 700*$45 = $31500
Opening inventory = $38150
Production in January = 2200 units *$45 = $99000
Purchase in January = production + ending - opening
= $99000 + $31500 - $38150
= $92350
Hence answer is option A $92350.
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