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What amount should morgan report as inventories

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Reference no: EM132894145

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 72,000
Prepaid insurance 6,000

Problem 1: What amount should Morgan report as inventories in its balance sheet?

a. $72,000

b. $76,000

c. $158,000

d. $162,000

Reference no: EM132894145

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