The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:

1. Purchased $263,000 of materials.
2. Used $189,360 of direct materials in production.
3. Incurred $473,400 of direct labor wages.
4. Incurred $189,400 of factory overhead.
5. Transferred $799,500 of work in process to finished goods.
6. Sold goods for $1,262,400.
7. Sold goods with a cost of $710,100.
8. Incurred $226,200 of selling expense.
9. Incurred $131,500 of administrative expense

1. Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar.

   Sorensen Manufacturing Company
   Inventory Balances
   For the Month Ended January 31
   Inventory balances on January 31:
   Materials	$fill in the blank 15
   Work in process	$fill in the blank 16
   Finished goods	$fill in the blank 17