What was the January 1, 2020 balance in the raw materials inventory account?

Sales in 2020 were 20% for cash and 80% on credit. Accounts Receivable $25,000 $29,000 Accounts receivable written off as uncollectible $41,200 Allowance for Uncollectible Accounts $3,000 $5,000 Bad debt expense is recorded as 1.5% of credit sales Gross margin expressed as a percent of cost of goods sold 56.25% Debit balance in the manufacturing overhead account at yearend but before closing to cost of goods sold $96,000 Finished Goods $41,000 $47,000 Work-in-Process $32,000 Direct materials placed into production $250,000 Direct labor $1,610,000 Indirect materials placed into production $17,000 Indirect labor $37,000 Other indirect manufacturing costs $391,000 Accounts Payable, Trade $25,000 $28,000 Cash paid for raw materials $271,000 Raw Materials inventory $23,000 It was the January 1, 2020 balance in the raw materials inventory account