At May 31, 2020, the accounts of Hannifan Manufacturing Company show the following: 1. May 1 inventories-Finished Goods $12,720, Work in Process $18,250, and Raw Materials $8,500. 2. May 31 inventories-Finished Goods $15,580, Work in Process $17,910, and Raw Materials $7,420. 3. Debit postings to Work in Process were direct materials $54,620, direct labour $32,760, and manufacturing overhead applied $40,760. 4. Sales totalled $204,100. Provide the balance sheet presentation of the manufacturing inventories at May 31, 2020. (List assets in order of liquidity.) HANNIFAN MANUFACTURING COMPANY Balance Sheet (Partial)