As of December 31, 2013, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2013, there was $2,000 of materials on hand. During the year, the company purchased $325,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during 2013? Question 30 options: $312,000 $324,500 $325,500 $313,000

Question

Business

Scarlett Downs

19 December, 16:02

As of December 31, 2013, Stand Still Industries had $2,500 of raw materials inventory. At the beginning of 2013, there was $2,000 of materials on hand. During the year, the company purchased $325,000 of materials; however, it paid for only $312,500. How much inventory was requisitioned for use on jobs during 2013? Question 30 options: $312,000 $324,500 $325,500 $313,000

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Answers (1)

Know the Answer?

Uriel Boone · Answer 1

Raw materials inventory requisitioned = $324500

so correct option is $324,500

Explanation:

given data

raw materials inventory = $2,500

materials on hand = $2,000

purchased materials = $325,000

paid = $312,500

to find out

How much inventory was requisitioned

solution

we get here Raw materials inventory requisitioned that is express as

Raw materials inventory requisitioned = materials on hand + purchased materials - raw materials inventory ... 1

put here value we get

Raw materials inventory requisitioned = $2000 + $325000 - $2,500

Raw materials inventory requisitioned = $324500

so correct option is $324,500