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SOLVED: Use the following information to compute the cost of direct materials used for the current year. Assume the raw materials inventory account is used only for direct materials (Assume no indirect materials).JanuaryDecemberInventories:Raw materials inventoryWork in process inventoryFinished goods inventoryActivity during current year:Materials purchasedDirect laborFactory overhead8,90313,2039,00311,60311,2006,803134,003183,20046,508Cost of Direct Material Used is Computed as:Raw materials i
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