Trekker manufactures backpacks Its plant records include the following materials related
Trekker manufactures backpacks. Its plant records include the following materials-related transactions:
Purchases of canvas (on account)............................................................ $70,000
Purchases of thread (on account)............................................................. 1,100
Material requisitions:
Canvas................................................................................................ 63,000
Thread................................................................................................ 280
Make the journal entries to record these transactions. Post these transactions to the raw materials inventory account. If the company had $35,680 of raw materials inventory at the beginning of the period, what is the ending balance of raw materials inventory?
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