Question

You are a new accounting intern at Sunny’s Bikes. Your boss gives you the following information and asks you to compute the cost of direct materials used (assume that the company’s raw materials inventory contains only direct materials).
Purchases of direct materials................................................................... $16,000
Import duties........................................................................................... 1,000
Freight-in ................................................................................................ 200
Freight-out.............................................................................................. 1,000
Ending raw materials inventory............................................................... 1,500
Beginning raw materials inventory.......................................................... 4,000


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  • CreatedApril 30, 2015
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