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What amount should Morgan report as inventories

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Reference no: EM132522804

Question - Morgan Manufacturing Company has the following account balances at year end:

Office supplies $4,000

Raw materials 27,000

Work-in-process 59,000

Finished goods 97,000

Prepaid insurance 6,000

Required - What amount should Morgan report as inventories in its balance sheet?

Reference no: EM132522804

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