Question
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 97,000 Prepaid insurance 6,000
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 97,000
Prepaid insurance 6,000
What amount should Morgan report as inventories in its balance sheet?
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
