This question is like a cost of goods sold question and the formula that we need to use is: beginning inventory + purchases ? materials used = ending inventory. This answer does not take into account the ending inventory.
This question is like a cost of goods sold question and the formula that we need to use is: beginning inventory + purchases ? materials used = ending inventory. This answer switches the beginning and ending inventory amounts in the formula.
This question is like a cost of goods sold question and the formula that we need to use is: beginning inventory + purchases ? materials used = ending inventory. Putting the numbers into the formula, we get $27,500 + X ? $128,900 = $28,750. Solving for X, we get $130,150 of materials purchased during the period.
This question is like a cost of goods sold question and the formula that we need to use is: beginning inventory + purchases ? materials used = ending inventory. This answer does not take into account the beginning inventory.
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