Eli Lilly Corporation owns a subsidiary, Coloring Inc., that produces one product. The color company provided the following information concerning its raw materials needs: - The ending raw materials inventory should equal 20% of the following month's raw materials production needs - Each unit of finished goods requires 2 pounds of raw materials - The raw materials cost $3.00 per pound -The company will need 26,440 pounds of raw material to satisfy production needs in March The raw materials inventory balance at the end of February should be closest to: