Arturo Manufacturing Company provided the following information for the year 2012:
Please refer to the T-accounts below which show the beginning balances for the year. Record the transactions for the year in each of the three inventory accounts and then show the ending balance in each T-account.
Definitions:
Process Innovations
Involve new or improved ways of manufacturing the product or providing the service.
Product Innovations
Involve the use of new or improved design principles or technologies for incorporation in products or services.
Creativity
Creativity involves the generation of new and original ideas, approaches, or solutions through imaginative thinking and problem-solving skills.
Innovative Organisations
Organizations that excel in creating new products, services, or processes and are adept at embracing change to meet or anticipate market demands.
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