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Beginning of 2020 End of 2020 Direct materials inventory $ 50,000 70,000 Work-in-process inventory 310,000...

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Accounting

Beginning of 2020 End of 2020

Direct materials inventory $ 50,000 70,000

Work-in-process inventory 310,000 270,000

Finished goods inventory 60,000 90,000

Assuming $350,000 raw materials purchased and $250,000 conversion costs added and expensed during the period, Calculate (compute) the raw materials used and the cost of goods sold during the period?

Select one:

a. $370,000 raw materials used and $690,000 cost of goods sold

b. $370,000 raw materials used and $630,000 cost of goods sold

c. $230,000 raw materials used and $490,000 cost of goods sold

d. $330,000 raw materials used and $510,000 cost of goods sold

e. $330,000 raw materials used and $590,000 cost of goods sold

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