ROBLEM 2-RAW MATERIAL, WORK IN PROGRESS &FINISHED GOODS INVENTORY Anderson Corporation has the following beginning inventory balances: Raw Material Inventory $300,000 Work In Process Inventory $100,000 Finished Goods Inventory $400,000 During the period, Anderson purchased $1,400,ooo worth of raw materials and placed $1,500,000 worth of raw materials into production. Anderson incurred $750,ooo in direct labor costs and applied $900,00o in overhead during the period. The cost of goods completed during the period was $3,200,000 and the cost of goods sold was $3,100,000 a. What is the ending balance of raw materials inventory? $