Beginning of 2020 End of 2020 Direct materials inventory $ 50,000 70,000 Work-in-process inventory 310,000...
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Accounting
Beginning of 2020 End of 2020
Direct materials inventory $ 50,000 70,000
Work-in-process inventory 310,000 270,000
Finished goods inventory 60,000 90,000
Assuming $350,000 raw materials purchased and $250,000 conversion costs added and expensed during the period, Calculate (compute) the raw materials used and the cost of goods sold during the period?
Select one:
a. $370,000 raw materials used and $690,000 cost of goods sold
b. $370,000 raw materials used and $630,000 cost of goods sold
c. $230,000 raw materials used and $490,000 cost of goods sold
d. $330,000 raw materials used and $510,000 cost of goods sold
e. $330,000 raw materials used and $590,000 cost of goods sold
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