The balance in the raw materials inventory account on May 30 was:

A) $7,200
B) $1,300
C) $29,500
D) $30,800

Question

The balance in the raw materials inventory account on May 30 was:A) $7,200B) $1,300C) $29,500D) $30,800

Hasina Fazeli · Accepted Answer

Final Answer : A, Explanation :  Raw materials used in production = Beginning raw materials inventory + Purchases of raw materials - Ending raw materials inventoryEnding raw materials inventory = Beginning raw materials inventory + Purchases of raw materials - Raw materials used in productionEnding raw materials inventory = $8,500 + $38,000 - $39,300 = $7,200

The balance in the raw materials inventory account on May 30 was:

A) $7,200
B) $1,300
C) $29,500
D) $30,800

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