Nazaro's Boot Company makes specialty boots for the rodeo circuit. On December 31, 2016, the company had (a) 300 pairs of boots in finished goods inventory and (b) 1,200 heels at a cost of $15 each in raw materials inventory. During 2017, the company purchased 39,000 additional heels at $15 each and manufactured 16,650 pairs of boots. Required: 1. Determine the unit and dollar amounts of raw materials inventory in heels at December 31, 2017 Total cost Number of units Cost per unit 1,200 $ 15 $ 18,000 39,000 $ 15 585,000 Beginning inventory, December 31, 2016 Purchases during 2017 Inventory available for production Less: Inventory transferred into production Ending inventory, December 31, 2017 40,200 $ 15 603,000 40,200 $ 603,000