1. Crosstown Co. manufactures lawnmow ers. During the year, the company purcha sed $60,000 of direct materials and incurred $ 120,000 of direct labour cost for manufact uring its product. Total manufacturing cost s were $320,000. The company's beginnin g and ending inventories for the year were Beginning inventory Ending inventory Direct materials $17,000 $13,000 $60,000 Work-in-process $50,000 $15,000 Finished goods $10,000 What was the cost of goods sold for the y ear