structor for grading Smooth Sailing Company experienced the following events during 2020 (1) Purchased $1800,000 of lumber and other materials for building boats (2) Incurred $200,000 for advertising (3) Paid $60,000 to have lumber transported to its factory (4) Had sales revenue of $6,000,000 during the year (5) Incurred $400.000 of general and administrative expenses (6) Took a periodic inventory at year end and determined that material costing $400,000 was on hand. The inventory at the beginning of the year was $200.000, All costs incurred were added to the appropriate accounts. All sales were on credit. Required: Solve for the following items in the company's Raw Materials inventory account a) Transfers in (TO) b) Beginning balance (BB) Transfers out (TO) dy Ending balance (EB)