3. Glavine Corporation incurred the following costs while manufacturing its product, Materials used in product $ 125,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 19,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line Sales commissions 35,000 workers 110,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and 550,600 at December 31. Instructions: SHOW YOUR COMPUTATIONS! (a) Compute cost of goods manufactured (b) Compute cost of goods sold