2. The following data is available: Beginning Work in Process (WIP) Inventory, $48,000, Direct Materials cost, $220,000; Direct Labor cost, $310,000; Factory Overhead cost, $130,000. Ending WIP Inventory is $33,000 and Ending Finished Goods Inventory is $80,000.

a) Calculate Cost of Goods Manufactured.

b) If Beginning Finished Goods Inventory is $67,000, calculate Cost of Goods Sold (expense).