While snoozing at the controls of his Pepper Six airplane, Dunse P. Sluggard leaned heavily against the door; suddenly, the door flew open and a startled Dunse tumbled out. As he parachuted to the ground, Dunse watched helplessly as the empty plane smashed into Operex Products’ plant and administrative offices. “The insurance company will never believe this,” cried Mercedes Juliet, the company’s controller, as she watched the ensuing fi re burn the building to the ground. “The entire company is wiped out!” “There’s no reason to even contact the insurance agent,” replied Ford Romero, the company’s operations manager. “We can’t fi le a claim without records, and all we have left is this copy of last year’s annual report. It shows that raw materials at the beginning of this year (January 1) totaled $30,000, work in process totaled $50,000, and finished goods totaled $90,000. But what we need is a record of these inventories as of today, and our records are up in smoke.” “All except this summary page I was working on when the plane hit the building,” said Mercedes. “It shows that our sales to date this year have totaled $1,350,000 and that manufacturing overhead cost has totaled $520,000.” “Hey! This annual report is more helpful than I thought,” exclaimed Ford. “I can see that our gross margin was 40% of sales. I can also see that direct labor cost is one-quarter of the manufacturing overhead cost.” “We may have a chance after all,” cried Mercedes. “My summary sheet lists the sum of direct labor and direct materials at $510,000 for the year, and it says that our goods available for sale to customers this year has totaled $960,000 at cost. Now if we just knew the amount of raw materials purchased so far this year.” “I know that figure,” yelled Ford. “It’s $420,000! The purchasing agent gave it to me in our planning meeting yesterday.” “Fantastic,” shouted Mercedes. “We’ll have our claim ready before the day is over!” To fi le a claim with the insurance company, Operex Products must determine the amount of cost in its inventories as of the date of the accident. You may assume that all of the materials used in production during the year were direct materials.

Required:
Determine the amount of cost in the raw materials, work in process, and finished goods inventories as of the date of the accident.