Elaine Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on factory Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on factory Delivery expense Sales commissions Salaries paid to sales clerks $125.000 60.000 7.500 110.000 23.000 45.000 19.000 21.000 35.000 50.000 Work in process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50.600 at December 31. (Assume all raw materials used were direct materials.) (a) Compute cost of goods manufactured. Cost of goods manufactured