4 Portland Manufacturing had the following data for the period just ended: Work in process, Jan. 1 Work in process, Dec. 31 Finished goods, Jan. 1 Finished goods, Dec. 31 Direct materials used Direct labor Factory depreciation Sales Advertising expense Factory utilities Indirect materials Indirect labor $ 24,500 50,000 80,000 66,000 129,000 295,000 90,000 945,000 59,000 29,500 24,000 39,000 Required: A. Calculate Portland's cost of goods manufactured. B. Calculate Portland's cost of goods sold. A. Cost of goods Manufactured B. Cost of goods sold