Trekker manufactures backpacks. Its plant records include the following materials-related transactions:

Purchases of canvas (on account)............................................................ $70,000

Purchases of thread (on account)............................................................. 1,100

Material requisitions:

Canvas................................................................................................ 63,000

Thread................................................................................................ 280

Make the journal entries to record these transactions. Post these transactions to the raw materials inventory account. If the company had $35,680 of raw materials inventory at the beginning of the period, what is the ending balance of raw materials inventory?