During the Month of June, Bolder Corporation, a Manufacturing Company

Essay

During the month of June, Bolder Corporation, a manufacturing company, purchased raw materials costing $76,000. The cost of goods manufactured for the month was $129,000. The beginning balance in the raw materials inventory account was $26,000 and the ending balance was $21,000. The beginning balance in the finished goods inventory account was $52,000 and the ending balance was $35,000.
Required:
(a) What was the cost of raw materials used in production during June? Show your work.
(b) What was the cost of goods sold for June? Show your work.