4. Victory Corporation incurred the following costs while manufacturing its product. Advertising expense $ 45,000 Materials used in product $ 125,000 Depreciation on plant 60,000 Property taxes on plant 19,000 Property taxes on sales department 7,500 Delivery expense 21,000 Salaries paid to sales clerks 50,000 Sales commissions 35,000 Labor costs of assembly-line workers 108,000 Factory supplies used 23,000 Work-in-process inventory was $26,000 at January 1 and $15,000 at December 31. Finished goods inventory was $65,000 at January 1 and $48,000 at December 31. Compute the following - no formal statement is required. (a) Compute cost of goods manufactured. (b) Compute cost of goods sold