A small building-supply company, Top Notch Lumber, experienced the following events during the year:

© Incurred $250,000 in selling costs.

Purchased $820,000 of building material.

Paid $20,000 for vehicles and transportation resources.

Incurred $400,000 of general and administrative costs.

Took a periodic inventory at year-end and learned that building material costing $270,000 was on hand. This compared with a beginning inventory of $300,000 on January 1.

™ Determined that sales revenue during the year was $2,000,000.

All costs incurred were added to the appropriate accounts. All sales were for cash.

Required Give the amounts for the following items in Top Notch Lumber’s Building-Material Inventory account:

a. Beginning balance (BB).

b. Transfers in (TI).

c. Ending balance (EB).

d. Transfers out (TO).