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What is the balance in the inventory account

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Question - Keenan Company has a balance in inventory of $8000 at the beginning of the year. The following costs are incurred in January:

$20,000 of raw materials are purchased and used to build devices

$5,000 of rent for January is paid for equipment used in manufacturing

$1,500 of rent for January is paid for a copy machine in the marketing department

$50,000 of direct labor costs are incurred

What is the balance in the inventory account after just these transactions have been recorded?

Reference no: EM132088585

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