Calculate the current-year cost of goods sold (COGS) for each of the independent situations below. Enter the appropriate amounts in the designated cells below. Enter all amounts as positive values. Unless otherwise indicated, items are valued at cost, beginning and/or ending inventory is $0, and gross receipts are less than $1 million each year.

1. Bingo Manufacturer incurred direct material costs of $90,000, direct labor costs of $180,000, plant rent and utilities costs of $5,000, and advertising and marketing costs of $4,000.

2.Amber Retailer was invoiced $40,000 for inventory purchases and $1,000 for shipping charges. She received a trade discount of $5,000. The invoice was paid in full before year-end.