At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventories-finished goods $13,200, work in process $17,400, and raw materials $9,100. May 31 inventories-finished goods $9,600, work in process $17,200, and raw materials $7,900. 2. 3. Debit postings to work in process were direct materials $65,000, direct labor $50,900, and manufacturing overhead applied $41,200. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,200. >> LOPEZ COMPANY Cost of Goods Manufactured Schedule $ LOPEZ COMPANY (Partial) Income Statement Indicate the balance sheet presentation of the manufacturing inventories at May 31, 2020. LOPEZ COMPANY (Partial) Balance sheet LA ta