The following represent the materials transactions for a company for the month of December 20X6:$000sMaterials purchases 176Issued to production 165Materials written off 4Returned to stores 9Returned to suppliers 8The material inventory at 1 December 20X6 was $15,000.What is the closing balance on the materials inventory account at 31 December 20X6?
A、$5,000
B、$16,000
C、$23,000
D、$31,000
A、$5,000
B、$16,000
C、$23,000
D、$31,000
【参考答案及解析】
Materials inventory account $000s $000s Opening inventory 15 Issued to production 165 Payables for purchases 176 Returned to suppliers 8 Returned to stores 9 Written off 4 Closing balance (balancing item) 23 200 200
Materials inventory account $000s $000s Opening inventory 15 Issued to production 165 Payables for purchases 176 Returned to suppliers 8 Returned to stores 9 Written off 4 Closing balance (balancing item) 23 200 200