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24 March, 05:10

Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory was $5,000 and their ending raw materials inventory was $6,000. Sparks' raw materials inventory turnover is :

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  1. 24 March, 07:08
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    The correct answer would be, $70500

    Explanation:

    Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:

    Beginning Raw Material Inventory: $5000

    Raw Material Used: $71500

    Ending Raw Material Inventory: $6000

    Raw Material Inventory Turnover:

    Beginning Inventory + Raw Material Used - Ending Raw Material

    = 5000+71500-6000 = $70500
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Home » Business » Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory was $5,000 and their ending raw materials inventory was $6,000. Sparks' raw materials inventory turnover is :
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