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JSmith Manufacturing Company Has the Following Account Balances at Year

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JSmith 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\begin{array}{lr}\text { Office supplies } & 4,000 \\\text { Raw materials } & 27,000 \\\text { Work-in-process } & 59,000 \\\text { Finished goods } & 92,000 \\\text { Prepaid insurance } & 6,000\end{array} What amount should JSmith report as inventories in its balance sheet?

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