If a company had a beginning balance of $5,000 in Raw Materials, an ending balance of $3,000 and purchased $27,000 of materials during the month, then the raw material used for the month was $29,000.

Question

Quizplus · Accepted Answer

The raw materials used can be calculated by adding the beginning balance to the purchases and then subtracting the ending balance: $5,000 + $27,000 - $3,000 = $29,000.

If a Company Had a Beginning Balance of $5,000 in Raw