Exercise 14-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers 116,200 Sales commissions Factory supplies used $123,900 Advertising expense $49,600 23,400 24,000 41,100 53,000 67,500 Property taxes on plant 8,420 Delivery expense 24,600 Salaries paid to sales clerks Work in process inventory was $14,700 at January 1 and $16,900 at December 31. Finished goods inventory was $70,700 at January 1 and $48,900 at December 31. Compute cost of goods manufactured Cost of goods manufactured LINK TO TEXT VIDEO: APPLIED SKILLS Compute cost of goods sold. Cost of goods sold s