Compute the beginning inventory balances of direct materials

Reference no: EM131822073

Question: Discovery of Unknowns The Brody Manufacturing Company has the following balances (in millions) as of December 31, 20X1:

The cost of direct materials purchased during 20X1 was $299. The cost of direct materials requisitioned for production during 20X1 was $242. The cost of goods completed was $630, all in millions. Before considering any year-end adjustments for overapplied or underapplied overhead, compute the beginning inventory balances of direct materials, WIP, and finished goods.

Reference no: EM131822073

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