company purcha jobs during 2022
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Can you help me understand the formula for the question below?
Transcribed Image Text:As of December 31, 2022, Vaughn Industries had $4000 of raw materials inventory. At the beginning of 2022, there was $3000 of
materials on hand. During the year, the company purchased $364000 of materials; however it paid for only $254000. How much
inventory was requisitioned for use on jobs during 2022?
$365000
$345000
$343000
$363000
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