Question

You are a new accounting intern at Thomas 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).
Import duties..................................................................................................... $ 1,300
Beginning raw materials inventory.................................................................... $ 4,100
Ending raw materials inventory......................................................................... $ 1,900
Freight- in........................................................................................................... $ 200
Freight- out........................................................................................................ $ 800
Purchases of direct materials............................................................................ $ 16,400



$1.99
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  • CreatedAugust 27, 2014
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