Question

he following information relates to the manufacturing operations of the Abbra Publishing Company for the year: Beginning Ending Raw materials inventory $ 549,000 $ 612,000 The raw materials used in manufacturing during the year totaled $1,028,000. Raw materials purchased during the year amount to:

Answer 1

Answer:

Purchases= $1,091,000

Explanation:

Giving the following information:

Beginning Raw materials inventory = $549,000

Ending Raw materials inventory= $612,000

The raw materials used in production= $1,028,000.

To calculate the raw material purchased, we need to use the following formula:

Purchases= production + ending inventory - beginning inventory

Purchases= 1,028,000 + 612,000 - 549,000

Purchases= $1,091,000