Rockman Company's inventory transactions are given below:ParticularsAmountDetailsBeginning Raw MaterialPurchase of raw materialsRaw Material Issued155,500276,000Material Requisition 1281152,400For Job 1001Material Requisition 1282165,10076,500For Job 1002Material Requisition 1283For Multiple JobsWhat would be the ending balance of Raw Materials Inventory account.?a. Ending Balance of Raw Material Inventory Account is $37,500b. Ending Balance of Raw Material Inventory Account is $73,500c. Ending Balance of Raw Material Inventory Account is $76,500d. Ending Balance of Raw Material Inventory Account is $113,500

A firm purchases raw material to use it for making the finished goods or completing a job. The…

Rockman Company's inventory transactions are given below: Particulars Amount Details Beginning Raw Material Purchase of raw materials Raw Material Issued 155,500 276,000 Material Requisition 1281 152,400 165,100 76,500 For Job 1001 Material Requisition 1282 Material Requisition 1283 For Job 1002 For Multiple Jobs What would be the ending balance of Raw Materials Inventory account.? a. Ending Balance of Raw Material Inventory Account is $37,500 b. Ending Balance of Raw Material Inventory Account is $73,500 c. Ending Balance of Raw Material Inventory Account is $76,500 d. Ending Balance of Raw Material Inventory Account is $113,500

Rockman Company's inventory transactions are given below: Particulars Amount Details Beginning Raw Material Purchase of raw materials Raw Material Issued 155,500 276,000 Material Requisition 1281 152,400 165,100 76,500 For Job 1001 Material Requisition 1282 Material Requisition 1283 For Job 1002 For Multiple Jobs What would be the ending balance of Raw Materials Inventory account.? a. Ending Balance of Raw Material Inventory Account is $37,500 b. Ending Balance of Raw Material Inventory Account is $73,500 c. Ending Balance of Raw Material Inventory Account is $76,500 d. Ending Balance of Raw Material Inventory Account is $113,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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