Use the following information to answer the question below
| Le | |
| Raw materials: | |
| Stock (01/01/2017) | 822000 |
| Stock (31/12/2017) | 560000 |
| Purchases | 125000 |
| Returns of raw materials | 15000 |
A. Le 402,000
B. Le 947,000
C. Le 932,000
D. Le 372,000
Correct Answer:
Option D – Le 372,000
Explanation
Cost of raw materials consumed = Opening stock of raw materials + Purchases of raw materials – Returns on raw materials – Closing stock of raw materials
= 822,000 + 125,000 – 15,000 – 560,000
= 372,000
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