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How much is the ending inventory of plastic

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Question - Crane, Inc. makes and sells a single product, buckets. It takes 30 ounces of plastic to make one bucket. Budgeted production of buckets for the next three months is as follows: August 89000 units, September 73000 units, October 66000 units. The company wants to maintain monthly ending inventories of plastic equal to 10% of the following month's production needs. On August 31, 198000 ounces of plastic were on hand. The cost of plastic is $0.04 per gram. How much is the ending inventory of plastic to be reported on the company's balance sheet at September 30?

Reference no: EM133016884

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