At May 31, 2022, the accounts of Cullumber Company show the following. 123 May 1 inventories-finished goods $13,330, work in process $15,530, and raw materials $8,640. 2. May 31 inventories-finished goods $10,070, work in process $16,880, and raw materials $7.500. 3. Debit postings to work in process were direct materials $66,170, direct labor $53,000, and manufacturing overhead applied $42,400. (Assume that overhead applied was equal to overhead incurred.) 4. Sales revenue totaled $227,900. Prepare the balance sheet section of the manufacturing inventories at May 31, 2022. CULLUMBERCOMPANY (Partial) Balance sheet For the Month Ended May 31, 2022 $ 67 $