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During the year the company purchased 324000 of materials

Question - As of December 31, 2012, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2012, there was $1,600 of materials on hand. During the year, the company purchased $324,000 of materials; however it paid for only $314,000. How much inventory was requisitioned for use on jobs during 2012?

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Accounting Basics: During the year the company purchased 324000 of materials

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Accounting Basics: During the year the company purchased 324000 of materials

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