Rabbitt Co. operates in a just-in-time (JIT) manufacturing environment, For June production, Rabbitt purchased 5,000 units of raw material $5.00 per unit on account. The journal entry required to record this transaction is: A. Raw and In process Inventory 25,000 Accounts Payable 25,000 B. Raw Materials Inventory 25,000 Accounts Payable 25,000 C. Finished Goods 25,000 Accounts Payable 25,000 D. Cost of Goods Manufactured 25,000 Accounts Payable 25,000
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