Homework Answers
Beginning raw materials inventory = $116,000
Ending raw materials inventory = $140,000
Direct materials used = $690,000
Cost of raw materials purchased = ?
Direct materials used = Beginning raw materials inventory + Cost of raw materials purchased - Ending raw materials inventory
690,000 = 116,000+ Cost of raw materials purchased - 140,000
Cost of raw materials purchased = $714,000
Fourth option is correct option.
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