Steelman Company manufacturers desks. The beginning balance of Raw Material Inventory was $4,500; raw material purchases of $29,600 were made during the month. At month end, $7,700 of raw material was on hand. Raw material used during the month was

Question

Quizplus · Accepted Answer

The raw material used is calculated as: Beginning Inventory ($4,500) + Purchases ($29,600) - Ending Inventory ($7,700) = $26,400.

Steelman Company Manufacturers Desks