inventory computed.? a) Cost of materials used in production during the period/ Average materials inventory b) Cost of the goods produced during the period/ average materials inventory c) Cost of good sold / average materials inventory d) Net sales / average materials inventory To calculate the raw materials inventory, add the cost of the direct materials in production with the manufacturing overhead. In this case your raw materials inventory is valued at $6,000.
inventory computed.? a) Cost of materials used in production during the period/ Average materials inventory b) Cost of the goods produced during the period/ average materials inventory c) Cost of good sold / average materials inventory d) Net sales / average materials inventory To calculate the raw materials inventory, add the cost of the direct materials in production with the manufacturing overhead. In this case your raw materials inventory is valued at $6,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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How is materials inventory computed.?
a) Cost of materials used in production during the period/ Average materials inventory
b) Cost of the goods produced during the period/ average materials inventory
c) Cost of good sold / average materials inventory
d) Net sales / average materials inventory
To calculate the raw materials inventory, add the cost of the direct materials in production with the manufacturing
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