Duncan Crafts manufactures specialty key chains for tourist attractions. On January 1, the firm had 300 souvenir attraction disks, costing $3 each, used in the production of key chains. During the year Duncan Crafts purchased 1,500 souvenir disks costing $3 each and produced 1,100 key chains. Compute the total cost of souvenir disk raw materials inventory at December 31.
What will be an ideal response?
| Raw Materials (Disks) | Units Cost | ? |
| Beginning Balance | 300 @ $3 | = $900 |
| +Purchased | 1,500 @ $3 | = 4,500 |
| Available | 1,800 @ $3 | = 5,400 |
| -Used | (1,100 @ $3) | = (3,300) |
| Ending Balance | 700 @ $3 | = $2,100 |
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