A manufacturer of plywood A manufacturer of wakeboards A manufacturer of luxury yachts A professional services firm A landscape contractor For a manufacturer that uses job order costing, show the order of the cost flow through the following accounts, starting with the purchase of materials in the Materials Inventory (1). 

a. Materials Inventory

b. Finished Goods Inventory

c. Cost of Goods Sold

d. Work in Process Inventorv PackRite manufactures backpacks. Its plant records include the following materials-related transactions:

What journal entries record these transactions? Post these transactions to the Materials Inventory account. If the company had S35,000 of Materials Inventory at the beginning of the period, what is the ending balance of Materials Inventory?

Transcribed Image Text:

Purchases of canvas (on account).. ....... $70,000 Purchases of thread (on account). Material requisitions: Canvas..... Thread 1,000 63,000 300