Selected information regarding a company's most recent quarter follows (all data in thousands) .
What was the cost of direct materials used for the quarter?
Definitions:
Domestic Corporation
A corporation that is incorporated under the laws of the country in which it is doing business.
Taxable Income
The portion of income subject to taxes after adjustments, deductions, and exemptions are applied to gross income.
FMV
The fair market value, or the price that property would sell for on the open market between a willing buyer and a willing seller.
Complete Liquidation
The process of closing a business by selling all assets, paying off creditors, and distributing any remaining assets to shareholders or owners.
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