Gabriel’s Guacamole manufactures guacamole in one-litre tubs for the restaurant industry. The following information relates to Gabriel’s manufacturing operations for the month of May.

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Inventory Account Raw materials Work in process Finished goods May 1 Balance May 31 Balance $25,000 $45,000 $52,000 $15,000 $32,000 $58,000 During May, Gabriel's also incurred the following costs: Raw materials purchases $68,000 Direct labour (rate of $10/hour) $98,000 Manufacturing overhead per labour hour $7.50 Calculate the cost of goods manufactured and the cost of goods sold for Gabriel's Guacamole for the end of May.