1. Sunny Manufacturing Company has the following account balances at year end:

Supplies $ 4,000

Raw materials 27,000

Work-in-process 59,000

Finished goods 92,000

Prepaid insurance 6,000

What amount should Lawson report as inventories in its statement of financial position? $

2. Citizens Inc. took a physical inventory at the end of the year and determined that $650,000 of goods were on hand. In addition, Citizen Inc. determined that $50,000 of goods that were in transit that were shipped f.o.b. shipping were actually received two days after the inventory count and that the company had $75,000 of goods out on consignment. What amount should Citizen report as inventory at the end of the year? $