Coldplay Corporation incurred the following costs while manufacturing its product. Materials used in product $100,000 Advertising expense $45,000 Depreciation on plant $60,000 Property taxes on plant $14,000 Property taxes on store $7,500 Delivery expense $21,000 Labor costs of assembly-line workers 110,000 Sales commissions $35,000 Factory supplies used 23,000 Salaries paid to sales clerks $50,000 Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $55,600 at December 31. Instructions (a) Compute cost of goods manufactured. (b) Compute cost of goods sold