A Manufacturing Company Has Provided the Following Data for the Month

Essay

A manufacturing company has provided the following data for the month of March:
Inventories:
$$\begin{array} { l c c c } & \text { Begirning } & { \text { Ending } } \\\text { Raw materials } & \$ 36,000 & \$ 24,000 \\\text { Finished goods } & \$ 57,000 & \$ 28,000\end{array}$$
Raw materials purchased during March totaled $69,000 and the cost of goods manufactured totaled $146,000.
Required:
(a) What was the cost of raw materials used in production during March? Show your work.
(b) What was the cost of goods sold for March? Show your work.