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Morgan Manufacturing Company has the following account balances at year end: Office supplies $ 4,000 Raw materials 27,000 Work-in-process 59,000 Finished goods 92,000 Prepaid insurance

Morgan Manufacturing Company has the following account balances at year end:

Office supplies $ 4,000

Raw materials 27,000

Work-in-process 59,000

Finished goods 92,000

Prepaid insurance 6,000

What amount should Morgan report as inventories in its balance sheet?

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