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Brief Exercise $23\mathrm{.}4($Static$)$ Estimating Direct Materials Inventory $($LO$23-4)$

On January $1,$ Howard Corporation determined that its direct materials inventory needs to contain $3,000$ pounds of materials by March $31.$ To achieve this goal, Howard will have to use four pounds of direct materials for every pound that it purchases during the upcoming quarter. On the basis of the company$$s budgeted sales volume, management estimates that $9,000$ pounds of direct materials need to be purchased by March $31.$

Determine how many of pounds of direct materials are currently in Howard$$s January $1$ inventory.