The beginning balance of the raw materials inventory account for May was $27,500.The ending balance for May was $28,750,and $128,900 of raw materials were used during the month.What was the cost of the materials purchased during the month?
A) $131,300.
B) $127,650.
C) $130,150.
D) $157,650.

Question

Quizplus · Accepted Answer

The cost of materials purchased during the month can be calculated by using the formula:
Cost of materials purchased = Ending inventory + Raw materials used - Beginning inventory
Substituting the given values, we get:
Cost of materials purchased = $28,750 + $128,900 - $27,500
Cost of materials purchased = $130,150
Therefore, the correct choice is (C) $130,150.

The Beginning Balance of the Raw Materials Inventory Account for May