At May 31, 2022, the accounts of Pharoah Company show the following. 1. May 1 inventories - finished goods $14,080, work in process $16,400, and raw materials $9,120. 2. May 31 inventories - finished goods $10,640, work in process $17,840, and raw materials $7,920. 3. Debit postings to work in process were direct materials $69,920, direct labor $56,000, and manufacturing overhead applied $44,800. (Assume that overhead applied was cqual to overhead incurred) 4. Sales revenue totaled $240,800. Prepare the balance sheet section of the manufacturing inventories at May 31, 2022