As of December 31, 2017, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2017, there was $1,600 of materials on hand. During the year, the company purchased $354,000 of materials; however, it paid for only $314,000. How much inventory was requisitioned for use on jobs during 2017? a. $354,400 b. $344,400 c. $343,600 d. $353,600

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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As of December 31, 2017, Nilsen Industries had $2,000 of raw materials inventory. At the
beginning of 2017, there was $1,600 of materials on hand. During the year, the company
purchased $354,000 of materials; however, it paid for only $314,000. How much inventory
was requisitioned for use on jobs during 2017?
a. $354,400
b. $344,400
c. $343,600
d. $353,600
Transcribed Image Text:As of December 31, 2017, Nilsen Industries had $2,000 of raw materials inventory. At the beginning of 2017, there was $1,600 of materials on hand. During the year, the company purchased $354,000 of materials; however, it paid for only $314,000. How much inventory was requisitioned for use on jobs during 2017? a. $354,400 b. $344,400 c. $343,600 d. $353,600
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