Cost Of Goods Manufactured; Cost Of Goods Sold. Aspen Company incurred the following costs during the month: direct labor, $120,000; factory overhead, $108,000; and direct materials purchases, $160,000. Inventories were costed as follows: LO8 Beginning Ending FinishedGoods. $27,000 $30,000 Work in Process. 61,500 57,500 Direct Materials. 37,500 43,500 Required: Calculate (1) the cost of goods manufactured and (2) the cost of goods sold.