Question: 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