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Bestco Products Has Total Inventory Balances of $330,000

Question 94

Essay

Bestco Products has total inventory balances of $330,000. If 1/6 of the balance reflects goods that are completed and ready for sale, and 3/6 represents materials not yet placed into production, what are the balances in each of the three inventory categories for this manufacturer?

Correct Answer:

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Raw Materials Inventory = $165,000;
Raw...

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