The Jefferson Corporation was started on January 1, 2010. The company incurred the following transactions during the year (Assume all transactions involve cash):
1) Acquired $1,000 of capital from the owners.
2) Purchased $300 of direct raw materials.
3) Used $200 of these direct raw materials in the production process.
4) Paid production workers $400 cash.
5) Paid $200 for manufacturing overhead (applied and actual overhead are the same).
6) Started and completed 200 units of inventory.
7) Sold 50 units at a price of $6 each.
8) Paid $40 for selling and administrative expenses.
The amount of raw material inventory on the balance sheet at the end of the accounting period would be what?