Squirrel Co. operates in a lean manufacturing environment. For June production, Squirrel purchased 6,000 units of raw materials at $6.00 per unit on account. The journal entry required to record this transaction is:
a. Raw Materials Inventory36,000
Accounts Payable36,000
b. Raw and In Process Inventory36,000
Accounts Payable36,000
c. Finished Goods36,000
Accounts Payable36,000
d. Cost of Goods Manufactured36,000
Accounts Payable36,000
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