Tatar 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	$	37,000
Work in process	$	15,000

Results of operations:
Raw materials purchased on account	$	480,000
Raw materials (all direct) requisitioned for use in production	$	434,000

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

Multiple Choice

$37,000

$120,000

$83,000

$517,000