A firm uses backflush costing to assign product costs to inventory. The firm values inventory using throughput accounting.

At the beginning of February, the RIP account has a balance of $450. On February 10, the firm purchases 2,000 lbs of raw materials worth $20,000. At the end of the month, 30 lbs of raw materials (worth $300) remain unused. 100 units were in process ($10 material cost per unit)

If you searched for the RIP account in the firm's cost accounting records on February 15, what balance would that account show?

Group of answer choices

$750

$450

$300

$20,000