The Chickadee Company has the following balances (in millions) as of December 31, 2007:

The cost of direct materials purchased during 2007 was $305. The cost of direct materials requisitioned for production during 2007 was $265. The cost of goods completed was $523, all in millions.
Before considering any year-end adjustments for overapplied or underapplied overhead, compute the beginning inventory balances of direct materials, work-in-process, and finished goods.

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Work-in-process inventory $ 14 Finished-goods inventory 205 Direct materials inventory 65 Factory overhead incurred 180 Factory overhead applied at 150% of direct labour cost 150 Cost of goods sold 350