$9)$The following data $($in thousands of dollars$)$ have been taken from the accounting records of Larner Corporation for the year just completed:

Sales $$970$

Purchases of raw materials$*$ $$110$

Direct labour $$150$

Manufacturing overhead $$300$

Administrative expenses $$160$

Selling expenses $$140$

Raw materials inventory, beginning$*$ $$40$

Raw materials inventory, ending$*$ $$50$

Work in process inventory, beginning $$40$

Work in process inventory, ending $$10$

Finished goods inventory, beginning $$160$

Finished goods inventory, ending $$150$

Required:

$($c$.)$ Explain why does cost of goods manufactured differ from cost of goods sold?