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What amount should morgan report as inventories

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Reference no: EM132940179

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 72,000

Prepaid insurance 6,000

Required - 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: EM132940179

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