The Fujita Company produces a single product. Costs accumulated at the end of the period are as follows:

Assume the beginning raw material inventory to be $67,400, the beginning finished goods inventory to be $123,500, and no beginning work in process inventory.

Required
Compute the closing account balances of each of the three inventory accounts: Raw Materials, Work in Process, and FinishedGoods.

Transcribed Image Text:

Raw material purchases Depreciation on manufacturing equipment Sales commissions Factory labor Property tax on manufacturing equipment $54,000 Production supervisor's alary 20,000 43,500 81,400 115,000 150,000 3,000 20,000 36,000 3,500 Shipping costs on units sold Materials used in production Goods completed Costs of units sold