Audio Escape Inc. manufactures audio speakers. Each speaker requires $145 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period:

Speaker assembly cell, estimated costs:

Labor ............................ $ 6,300

Depreciation .................. 2,800

Supplies ...................... 2,400

Power ......................... 1,100

Total cell costs for the period $12,600

The operating plan calls for 180 operating hours for the period. Each speaker requires 18 minutes of cell process time. The unit selling price for each speaker is $360. During the period, the following transactions occurred:

1. Purchased materials to produce 625 speaker units.

2. Applied conversion costs to production of 600 speaker units.

3. Completed and transferred 585 speaker units to finished goods.

4. Sold 570 speaker units.

There were no inventories at the beginning of the period.

a. Journalize the summary transactions (1)-(4) for the period.

b. Determine the ending balance for raw and in process inventory and finished goods inventory.