Courtney recently took over as the assistant controller of Moon Manufacturing. The previous assistant controller abruptly left the company last month while the accounting records were still incomplete. So far, Courtney has learned the 12/1/2021 balances of work-in-process inventory, direct materials inventory, and finished goods inventory were $200,000, $90,000, and $650,000, respectively. She also discovered that the Cost of Goods Manufactured was 4 times the Direct Materials used. Finally, Courtney found the following information for December 2021 sitting on the previous assistant controllers desk:

Direct materials purchased	$700,000
Conversion Costs (= Direct labor + Manufacturing Overhead)	$2,000,000
Total manufacturing costs added during the period	$2,500,000
Gross margin as a percentage of revenue	45%
Revenues	$3,275,000

Required: Please show all your supporting calculations in Excel

1. Courtney now needs your help finding the following balances:
   1. Finished goods inventory (12/31/2021)
   2. Work-in-process inventory (12/31/2021)
   3. Direct materials inventory (12/31/2021)

Use T-accounts for Direct Materials, Work-in-Process, Finished Goods, and Cost of Goods Sold to show your calculations.

If someone could show how to find the balances that would be very helpful!