Concord Corporation has beginning and ending raw materials inventories of $86000 and $110000, respectively. If direct...
Concord Corporation has beginning and ending raw materials inventories of $86000 and $110000, respectively. If direct materials used were $590000, what was the cost of raw materials purchased?
Homework Answers
Beginning inventory + Purchases - raw materials used = Ending inventory
86,000 + Purchases - 590,000 = 110,000
Purchases = 614,000
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