The following information relates to the manufacturing operations of the JNR Printing Company for the year: Beginning Ending Raw materials inventory $ 55,000 $ 58,000 Finished goods 66,000 58,000 The raw materials used in manufacturing during the year totaled $116,000. Raw materials purchased during the year amount to:

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Dryomys Dryomys · Answer 1 · 2019-09-16T14:00:50+02:00

Answer: $119,000

Explanation:

Given that,

Beginning Ending

Raw materials inventory = $ 55,000 $ 58,000

Finished goods = $66,000 $58,000

Raw materials used in manufacturing during the year = $116,000

Raw materials purchased during the year:

= Ending Raw materials + Raw materials used - beginning raw material

= $ 58,000 + $116,000 - $ 55,000

= $119,000

abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2022-03-08T11:57:23+01:00

Raw materials purchased during the year amount to:$119,000.

Using this formula

Beginning Raw Material + Purchase - End Raw material = Raw material used

Let plug in the formula

Purchase= Raw Material used - Beginning Raw material + End Raw material

Purchase = $116,000 - $55,000 + $58,000

Purchase= $119,000

Inconclusion the Raw materials purchased during the year amount to:$119,000.

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