Niles Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year:

Beginning inventories:
Raw materials	$	47,000
Work in process	$	20,000
Estimated total manufacturing overhead at the beginning of the year	$	646,250
Estimated direct labor-hours at the beginning of the year		47,000	direct labor-hours

Results of operations:

Raw materials purchased on account	$	538,000
Raw materials (all direct) requisitioned for use in production	$	535,000
Direct labor cost	$	699,000
Actual direct labor-hours		37,000	direct labor-hours
Manufacturing overhead:
Indirect labor cost	$	134,000
Other manufacturing overhead costs incurred	$	453,000
Cost of goods manufactured	$	1,568,000

How much is the ending balance in the Raw Materials inventory account?