The following information relates to the manufacturing operations of the IMH Publishing Corporation for the year:
Beginning Ending
Raw materials inventory $ 47,000 $ 50,000
Finished goods 58,000 50,000
The raw materials used in manufacturing during the year totaled $108,000. Raw materials purchased during the year amount to:
$111,000.
$108,000.
$105,000.
$116,000.
$97,000.