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Nazaro's Boot Company makes specialty boots for the rodeo circuit. On December 31, 2016, the company had (a) 300 pairs of boots in finished goods inventory and (b) 1,200 heels at a cost of $8 each in raw materials inventory. During 2017, the company purchased 35,000 additional heels at $8 each and manufactured 16,600 pairs of boots. Determine the unit and dollar amounts of raw materials inventory in heels at December 31. 2017.

Respuesta :

TomShelby

Answer:

Ending inventory 3,000 units

Ending Inventory $24,000

Explanation:

I'm going to assume 2 heels are use to get a pair of boots complete

16,600 boots x 2 = 33,200 heels used in production

Then:

[tex]$Beginning Inventory + Purchase - used = Ending Inventory [/tex]

beginning                   1,200 at 8

purchase                 35,000 at 8

used in production (33,200)

Ending Inventory 3,000 at 8 = 24,000

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