Answer:
Raw materials purchased during the year amount to E) $121,000.
Explanation:
The Raw materials purchased during the year can be found by Opening a Raw Materials T - Account.
The Balancing figure for this Account Relates to the Purchase of Raw Materials.
Debits :
Beginning Raw materials inventory $ 57,000
Purchase of Raw Materials (<em>Balancing Figure</em>) $121,000
Totals $178,000
Credits :
Ending Raw materials inventory $ 60,000
Transferred to Manufacturing Account $118,000
Totals $178,000
