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The cost of the raw materials used in production during the year (in thousands

The cost of the raw materials used in production during the year (in thousands

FINANCIAL ACCOUNTING
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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3 A 5-The following data (in thousands of dollars) have been taken from the accountin Rexman Corporation for the just completed year. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Administrative expenses Direct labor Manufacturing overhead Purchases of raw materials Sales Selling expenses $ 160 280 280 200 480 640 600 800 920 480 3,960 560 The cost of the raw materials used in production during the year (in thousands of $360. B) $600. C) $640. D) $760.
Transcribed Image Text:3 A 5-The following data (in thousands of dollars) have been taken from the accountin Rexman Corporation for the just completed year. Raw materials inventory, beginning Raw materials inventory, ending Work in process inventory, beginning Work in process inventory, ending Finished goods inventory, beginning Finished goods inventory, ending Administrative expenses Direct labor Manufacturing overhead Purchases of raw materials Sales Selling expenses $ 160 280 280 200 480 640 600 800 920 480 3,960 560 The cost of the raw materials used in production during the year (in thousands of $360. B) $600. C) $640. D) $760.
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