A County Uses the Consumption Method to Account for General

Multiple Choice

A county uses the consumption method to account for General Fund materials and supplies. The beginning inventory of materials and supplies was $122,000. The ending inventory was $150,000. The beginning balance of reserve for encumbrances for supplies ordered but not received at the beginning of the year was $50,000; the ending balance was $20,000. Supplies purchased during the year totaled $750,000. The county General Fund should report expenditures for materials and supplies for the year of

A) $722,000.
B) $750,000.
C) $752,000.
D) $780,000.