Frost Corporation incurred the following transactions during its first year of operations. (Assume all transactions involve cash.) 1) Acquired $2,500 of capital from the owners. 2) Purchased $525 of direct raw materials. 3) Used $350 of these direct raw materials in the production process. 4) Paid production workers $550 cash. 5) Paid $350 for manufacturing overhead (applied and actual overhead are the same). 6) Started and completed 250 units of inventory. 7) Sold 200 units at a price of $6 each. 8) Paid $190 for selling and administrative expenses. The amount of raw material inventory on the balance sheet at the end of the accounting period would be: Multiple Choice 0 0 0 C