1. Cost of Goods Manufactured and Sold Cornelius Company produces womens clothing. During the year, the company incurred the following costs:

   Factory rent	$380,000
   Direct labor	300,000
   Utilitiesfactory	38,000
   Purchases of direct materials	555,000
   Indirect materials	66,000
   Indirect labor	60,000

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   Inventories for the year were as follows:

	January 1	December 31
Materials	$25,000	$40,000
Work-in-Process	45,000	40,000
Finished Goods	135,000	75,000

Required

1. Prepare a statement of cost of goods manufactured.

2. Calculate cost of goods sold.

NO picture file please