Question

Rite Packs manufactures backpacks. Its plant records include the following materials-related data:
Raw Materials Inventory, beginning balance ........ $ 34,000
Purchases of canvas, on account ............. 71,000
Purchases of sewing machine lubricating oil, on account .... 1,100
Materials requisitions:
Canvas ........................ 64,000
Sewing machine lubricating oil ............. 250
Journalize the entries to record the transactions, post to the Raw Materials Inventory account, and determine the ending balance in Raw Materials Inventory.



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  • CreatedJanuary 16, 2015
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