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Calculate the value of Opening Direct Materials Inventory

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Reference no: EM132720513

Problem - A manufacturing firm has provided the following information on their production:

Production (units) 16,000

Direct Materials used in Production $55,000

Direct labour $10,000

Overhead $20,000

Sales $400,000

Purchases Direct Materials $53,239

Closing Direct Materials Inventory $10,008

Opening Finished Goods Inventory (500 units) $6,000

Closing Finished Goods Inventory (300 units) $4,000

Required - Calculate the value of Opening Direct Materials Inventory?

Reference no: EM132720513

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