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Morgan Manufacturing Company has the following account balances at year end: Office supplies $ 28,000 Raw materials 57.000 Work-in-process 75,000 Finished goods 145,000 Prepaid insurance

Morgan Manufacturing Company has the following account balances at year end: Office supplies $ 28,000 Raw materials 57.000 Work-in-process 75,000 Finished goods 145,000 Prepaid insurance 36,000 What amount should Morgan report as inventories in its balance sheet

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