.A manufacturing business has purchases of raw materials of $4,500, closing inventory of $1,400 and opening inventory of $800. What is the cost of raw materials used in production?

Cost of raw materials used = $5,100

Explanation:

Given:

Purchases of raw materials = $4,500

Closing inventory = $1,400

Opening inventory = $800

Find:

Cost of raw materials used

Computation:

Cost of raw materials used = Opening inventory + Purchases of raw materials - Closing inventory

Cost of raw materials used = 1,400 + 4,500 - 800

Cost of raw materials used = $5,100

what she means is that back then a dollar (or less) could buy a lot more then because of the former state of deflation. since then a price inflation has occured.

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