Nazaro’s Boot Company makes specialty boots for the rodeo circuit. On December 31, 2014, the company had (a) 300 pairs of boots in finished goods inventory and (b) 1,200 heels at a cost of $9 each in raw materials inventory. During 2015, the company purchased 40,000 additional heels at $9 each and manufactured 16,850 pairs of boots.
Required:
1.
Determine the unit and dollar amounts of raw materials inventory in heels at December 31, 2015.
Required:
1.
Determine the unit and dollar amounts of raw materials inventory in heels at December 31, 2015.
how do i calculate the "Less: Inventory transferred into production"
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