What was the cost of the raw materials used


The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the just completed year.

Sales: $990
Raw materials inventory, beginning: $40
Raw materials inventory, ending: $70
Purchases of raw materials: $120
Direct labor: $200
Manufacturing overhead: $230
Administrative expenses: $150
Selling expenses: $140
Work in process inventory, beginning: $70
Work in process inventory, ending: $50
Finished goods inventory, beginning: $120
Finished goods inventory, ending: $160

what was the cost of the raw materials used in production during the year (in thousands of dollars) ?

 

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Accounting Basics: What was the cost of the raw materials used
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