Jefferson Corporation was started on January 1, 2014. The company incurred the following transactions during the year (Assume all transactions involve cash): 1) Acquired $1,700 of capital from the owners. 2) Purchased $405 of direct raw materials. 3) Used $270 of these direct raw materials in the production process. 4) Paid production workers $470 cash. 5) Paid $270 for manufacturing overhead (applied and actual overhead are the same). 6) Started and completed 250 units of inventory. 7) Sold 120 units at a price of $6 each. 8) Paid $110 for selling and administrative expenses. The amount of raw material inventory on the balance sheet at the end of the accounting period would be:

$405.

$270.

$0.

$135.