QUESTION 20 As of December 31, 2017, Stand Still Industries had $2,500 of raw materials inventory....
QUESTION 20
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As of December 31, 2017, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2017, there was $2,000 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during 2017?
$362,000
$374,500
$375,500
$363,000
Homework Answers
Beginning inventory + Inventory purchased - Closing inventory = Inventory used
= $2,000 - $375,000 - $2,500
= $374,500 Inventory used
2nd option
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QUESTION 20
As of December 31, 2017, Stand Still Industries had $2,500 of
raw materials inventory....
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