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.The materials purchased during the month cost:

Question

Quizplus · Accepted Answer

To find the cost of materials purchased during the month, we need to use the following formula:

Cost of materials purchased = Beginning raw materials inventory + Purchases – Ending raw materials inventory

Plugging in the given values, we get:

Cost of materials purchased = $27,500 + Purchases – $28,750
$128,900 = Purchases – $1,250
Purchases = $130,150

Therefore, the cost of materials purchased during the month was $130,150. The correct answer is B.

The Beginning Balance of the Raw Materials Inventory Account for May