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Concord Corporation budgets on an annual basis for its fiscal year. The following beginning and...

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Accounting

Concord Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2016 to June 30, 2017:

June 30, 2017 June 30, 2016
Raw Materials 1000 kilos 2000 kilos

Three kilos of raw materials are needed to produce each unit of finished product. If Concord Corporation plans to produce 510000 units during the 2016-2017 fiscal year, how many kilos of materials will the company need to purchase for its production during the year?

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