The chief financial officer (cfo) of myeneke corporation requested that the accounting department prepare a preliminary balance sheet on december 30, 2017, so that the cfo could get an idea of how the company stood. he knows that certain debt agreements with its creditors require the company to maintain a current ratio of at least 2: 1. the preliminary balance sheet is as follows.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: