Rite Packs manufactures backpacks. Its plant records include the following materials-related data:

Raw Materials Inventory, beginning balance ........$ 34,000

Purchases of canvas, on account ............. 71,000

Purchases of sewing machine lubricating oil, on account .... 1,100

Materials requisitions:

Canvas ........................64,000

Sewing machine lubricating oil ............. 250

Journalize the entries to record the transactions, post to the Raw Materials Inventory account, and determine the ending balance in Raw Materials Inventory.