In the Schedule of Cost of Goods Manufactured, Raw materials used in production = Beginning raw materials inventory + Purchases of raw materials − Ending raw materials inventory.

Name: In the Schedule of Cost of Goods Manufactured, Raw materials used in production = Beginning raw materials inventory + Purchases of raw materials − Ending raw materials inventory.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This formula is correct and is used to calculate the raw materials used in production for a specific period of time.

In the Schedule of Cost of Goods Manufactured, Raw Materials