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It's Kinda China produces collectible pieces of art. The company's Raw material Inventory account includes the costs of both direct and indirect materials. Account balances for the company at the beginning and end of July 2008 follow:

a) Raw Materials Inventory $46,600 $34,800

b) Work in Process Inventory 73,200 60,000

c) Finished Goods Inventory 36,000 52,400

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945373

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