Ron Howard recently took over as the controller of Johnson Brothers Manufacturing. Last month, the previous controller left the company with little notice and left the accounting records in disarray. Ron needs the ending inventory balances to report first- quarter numbers.

For the previous month (March 2014) Ron was able to piece together the following information:

Direct materials purchased ................$ 120,000

Work- in- process inventory, 3/ 1/ 2014 ...........$ 35,000

Direct materials inventory, 3/ 1/ 2014 ...........$ 12, 500

Finished goods inventory, 3/ 1/ 2014 ............$ 160,000

Conversion costs ...................$ 330,000

Total manufacturing costs added during the period .......$ 420,000

Cost of goods manufactured ......... 4 times direct materials used

Gross margin as a percentage of revenues ......... 20%

Revenues ......................$ 518,750

Required

Calculate the cost of:

1. Finished goods inventory, 3/ 31/ 2014

2. Work- in- process inventory, 3/ 31/ 2014

3. Direct materials inventory, 3/ 31/ 2014