Solved: During the year the company purchased 304000 of materials, Accounting Basics

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During the year the company purchased 304000 of materials

Question - As of December 31, 2017, Nilsen Industries had $1000 of raw materials inventory. At the beginning of 2017, there was $600 of materials on hand. During the year, the company purchased $304000 of materials; however it paid for only $264000. How much inventory was requisitioned for use on jobs during 2017?

$299400

$298600

$303600

$304400

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Accounting Basics: During the year the company purchased 304000 of materials

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