At May 31, 2020, the accounts of Sheridan Company show the following. 1. May 1 inventories-finished goods $15,400, work in process $16,000, and raw materials $9,100. 2. May 31 inventories-finished goods $9,800, work in process $16,200, and raw materials $7,400, 3. Debit postings to work in process were direct materials $64,800, direct labor $51,300, and manufacturing overhead applied $40,600. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $216,600