Gravel Manufacturing had supplies on hand costing $480 on December 31.During the same year,supplies costing $320 were purchased,and $640 in supplies were consumed during the year.What was the cost of supplies on hand on January 1 of that year?

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The Answer of Gravel Manufacturing had supplies on hand costing $480 on December 31.During the same year,supplies costing $320 were purchased,and $640 in supplies were consumed during the year.What was the cost of supplies on hand on January 1 of that year?

Gravel Manufacturing Had Supplies on Hand Costing $480 on December