Prepare the balance sheet section of the manufacturing inventories at May $31,2022.$

CRANECOMPANY

$($Partial$)$ Balance sheet

For the Month Ended May $31,2022$

$

$]$

$Current Attempt in Progress

At May $31,2022,$ the accounts of Crane Company show the following.

May $1$ inventories$-$finished goods $$13,080,$ work in process $$15,240,$ and raw materials $$8,480.$

$,$ May $31$ inventories$-$finished goods $$9,880,$ work in process $$16,560,$ and raw materials $$7,360.$

Debit postings to work in process were direct materials $$64,920,$ direct labor $$52,000,$ and manufacturing overhead applied

$$41,600.($Assume that overhead applied was equal to overhead incurred.$)$

Sales revenue totaled $$223,600.$