On December 1, Mogro Corporation had $26,000 of raw materials on hand. During the month, the Corporation purchased an additional $60,000 of raw materials. During December, $62,000 of raw materials were requisitioned from the storeroom for use in production. The debits entered in the Raw Materials account during the month of December total:
A) $26,000
B) $86,000
C) $60,000
D) $62,000

Question

Quizplus · Accepted Answer

The debits to the Raw Materials account include only the purchases of raw materials, which total $60,000. The beginning balance and the amount requisitioned for production are not debited to the Raw Materials account during the month.

On December 1, Mogro Corporation Had $26,000 of Raw Materials