Given the following data:?Beginning raw materials inventory$30,000Materials purchased65,000Ending raw materials inventory40,000?What is the amount of raw materials used?
A) $5,000
B) $55,000
C) $75,000
D) $30,000

Question

Quizplus · Accepted Answer

The amount of raw materials used can be calculated using the formula: Beginning raw materials inventory + Materials purchased - Ending raw materials inventory = Raw materials used.
Substituting the values, we get:
$30,000 + $65,000 - $40,000 = $55,000. Therefore, option B is the correct answer.

Given the Following Data:?Beginning Raw Materials Inventory$30,000Materials Purchased65,000Ending Raw Materials