Problem related to raw materials inventory, Accounting Basics

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Problem related to raw materials inventory

As of December 31, 2010, Stand Still Industries had $1,500 of raw materials inventory. At the beginning of 2010, there was $1,200 of materials on hand. During the year, the company purchased $183,000 of materials; however, it paid for only $175,500. How much inventory was requisitioned for use on jobs during 2010?

A) $175,200

B) $182,700

C) $183,300

D) $175,800

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Accounting Basics: Problem related to raw materials inventory

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Accounting Basics: Problem related to raw materials inventory

Reference No:- TGS090371

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Recent Questions Asked Accounting Basics

Q : How much inventory was requisitioned for employ on jobs

Q : Cost of the finished goods on the hand from job

Q : Balance of the work in process inventory

Q : Storeroom entry of record-transfer of materials

Q : Problem related to raw materials inventory

Q : Manufacturing report as cost of goods manufactured

Q : Raw materials transferred to the production

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Accounting Basics: Problem related to raw materials inventory

Reference No:- TGS090371

Recent Questions Asked Accounting Basics

Q : How much inventory was requisitioned for employ on jobs

Q : Cost of the finished goods on the hand from job

Q : Balance of the work in process inventory

Q : Storeroom entry of record-transfer of materials

Q : Problem related to raw materials inventory

Q : Manufacturing report as cost of goods manufactured

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Q : Cost of goods sold for the specific year

Q : Total raw materials available

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