As of December 31, 2020, Nike Manufacturing had $2,500 of raw materials inventory. At the beginning of 2020, there was $1,900 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $330,000. How much inventory was requisitioned for use on jobs during 2020?

As of December 31, 2020, Nike Manufacturing had $2,500 of raw materials inventory. At the beginning of 2020, there was $1,900 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $330,000. How much inventory was requisitioned for use on jobs during 2020?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12EB: A company has the following transactions during the week. Purchase of $3,000 raw materials inventory...

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