Given the following information, compute the ending balances of the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory accounts:
- Materials Inventory, beginning balance: $23,000
- Work in Process Inventory, beginning balance: 25,750
- Finished Goods Inventory, beginning balance: 38,000
- Direct materials purchased: 85,000
- Direct materials placed into production: 74,000
- Direct labor costs: 97,000
- Overhead costs: 35,000
- Cost of goods manufactured: 123,000
- Cost of goods sold: 93,375