Problem: As of December 31, 2023, Smart Industries had $2,500 of raw materials inventory. At the beginning of 2023, there was $2,000 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $312,500. How much inventory was used (requisitioned for use) on jobs during 2023? As of December 31, 2023, Smart Industries had $2,500 of raw materials inventory. At the beginning of 2023, there was $2,000 of materials on hand. During the year, the company purchased $375,000 of materials; however, it paid for only $312,500. How much inventory was used (requisitioned for use) on jobs during 2023? $312,000 $374,500 None $375,500 $313,000