Problema company had materials inventory at july 1 of 12000, Ask an Expert

Accounting

Problem:

A company had materials inventory at July 1 of $12,000. The materials inventory at July 31 was $15,000 and the cost of direct materials used in production was $20,000.

Required:

Question: What was the cost of materials purchased during the month?

a. $23,000

b. $17,000

c. $35,000

d. $20,000

Note: Please show how you came up with the solution.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164444

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