How much is the beginning raw materials inventory

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Question - Constanza Company has the following balances as of the year ended December 31, 2010:

Raw Materials Inventory $30,000

WIP Inventory 69,000

Finished Goods Inventory 99,000

Cost of Goods Sold 149,000

Additional information is as follows:

Cost of raw materials purchased during 2010 $82,000

Cost of direct materials required in 2010 74,000

Cost of goods completed during 2010 204,000

Factory overhead applied (120% of direct labor) 96,000

Required -

1. How much is the beginning raw materials inventory?

2. What amount is the beginning WIP inventory?

3. How much is the beginning finished goods inventory?

Reference no: EM133085231

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