Lopez Corporation incurred the following costs while manufacturing its product.
Materials used in product$128,200Advertising expense$47,700Depreciation on plant64,500Property taxes on plant22,300Property taxes on store8,540Delivery expense27,800Labor costs of assembly-line workers119,000Sales commissions38,900Factory supplies used33,500Salaries paid to sales clerks58,000
Work in process inventory was $13,500 at January 1 and $17,200 at December 31. Finished goods inventory was $68,400 at January 1 and $47,700 at December 31.
Compute cost of goods manufactured.
Cost of goods manufactured$
Compute cost of goods sold.
Cost of goods sold$
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