T. Zvinowanda's trial balance showed opening inventory of raw materials $30 600 at 1 January 2021, purchases of raw materials of $104 000 during the year, and closing inventory of raw materials of $33 000 at 31 December 2021. Calculate the cost of raw materials consumed for the year.

Model answer

$101 600

Also accepted: 101600, 101 600

Explanation

30 600+104 000-33 000 = $101 600.

Derived from ZIMSEC Principles of Accounting 4051/2 Paper 2, June 2024, Q1

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