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Author Question: Cottonwood, Inc. has the following information regarding its Raw Materials Inventory account:Direct ... (Read 33 times)

kms5229

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Cottonwood, Inc. has the following information regarding its Raw Materials Inventory account:

Direct materials used during the month$672,700
Raw materials purchased during the month683,200
Ending balance, Raw Materials Inventory21,250

The company uses the Raw Materials Inventory account only for direct materials. What is the beginning balance of Cottonwood's Raw Materials Inventory account?
◦ $693,950
◦ $10,750
◦ $661,950
◦ $31,750


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Marked as best answer by kms5229 on Feb 5, 2023

xinyifff

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kms5229

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Reply 2 on: Feb 5, 2023
YES! Correct, THANKS for helping me on my review


adammoses97

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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