Lakeside Machining, Inc., has the following inventory account balances and related manufacturing cost information for the month of August: $\begin{array}{lrr}
\text { Raw Materials, August 1 } & \$ 65,000 \
\text { Raw Materials, August 31 } & \$ 72,000 \
\text { Raw materials purchased } & \$ 286,000
\end{array}$

In Lakeside's Statement of Cost of Goods Manufactured for August, raw materials used will be reported as:
A)$214,000.
B)$221,000.
C)$279,000.
D)$296,000.

Question

Lakeside Machining, Inc., has the following inventory account balances and related manufacturing cost information for the month of August: $\begin{array}{lrr}
\text { Raw Materials, August 1 } & \$  65,000 \
\text { Raw Materials, August 31 } & \$ 72,000 \
\text { Raw materials purchased } & \$ 286,000
\end{array}$

In Lakeside's Statement of Cost of Goods Manufactured for August, raw materials used will be reported as:
A)$214,000.
B)$221,000.
C)$279,000.
D)$296,000.

Quizplus · Accepted Answer

The Answer of Lakeside Machining, Inc., has the following inventory account balances and related manufacturing cost information for the month of August: $\begin{array}{lrr}
\text { Raw Materials, August 1 } & \$  65,000 \
\text { Raw Materials, August 31 } & \$ 72,000 \
\text { Raw materials purchased } & \$ 286,000
\end{array}$

In Lakeside's Statement of Cost of Goods Manufactured for August, raw materials used will be reported as:
A)$214,000.
B)$221,000.
C)$279,000.
D)$296,000.

Lakeside Machining, Inc In Lakeside's Statement of Cost of Goods Manufactured for August