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ycow [4]
3 years ago
9

Selected T-accounts for Moore Company are given below for the just completed year:Raw MaterialsBal. 1/1 35,000 Credits ?Debits 4

70,000Bal. 12/31 58,000What was the cost of raw materials put into production during the year?
Business
1 answer:
liq [111]3 years ago
7 0

Answer:

$447,000

Explanation:

The debited amount of $470,000 must have been a purchase of materials then add the the beginning inventory of $35,000 and we will get the total cost of materials available for production.

$470,000 + $35,000 = $505,000

Then, we have to deduct the raw materials ending balance of $58,000 to get the cost of raw materials put into production of $447,000.

$505,000 - $58,000 = $447,000

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