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As of December 31, 2010, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2010, there was $2,000 of materials on hand. During the year, the company purchased $305,000 of materials; however, it paid for only $292,500. How much inventory was requisitioned for use on jobs during 2010?

a. $292,000
b. $304,500
c. $305,500
d. $293,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9402717

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