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Beginning inventory consisted of 16,000 units with a direct materials cost of $56,800. The equivalent work represented by all direct materials costs in the WIP Inventory account amounted to 72,000 units. Ending inventory had 24,000 units that were 20 percent complete with respect to materials. The ending inventory had a $18,000 direct materials cost assigned. What was the total materials cost incurred this period?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975736

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