Question: Please explain the solution to this general accounting problem with accurate principles. Ford Company had beginning raw materials inventory of $10,000. During the period, the

Please explain the solution to this general accounting problem with accurate principles.

Ford Company had beginning raw materials inventory of $10,000. During the period, the company purchased $50,000 of raw materials on account. If the ending balance in raw materials was $7,000, what is the amount of raw materials transferred to work in process (WIP) inventory? A. $53,000 B. $50,000 C. $47,000 D. $55,000

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