Exercise 14-8 (Part Level Submission} Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product 124,600 Advertising expense 54,450 Depreciation on plant 69,350 Property taxes on plant 19,390 Property taxes on store 8,230 Delivery expense 22,530 Labor costs of assemblyline workers 115,600 Sales commissions 45,690 Factory supplies used 33,820 Salaries paid to sales clerks 57,740 Work in process inventory was $13,100 at January 1 and $17,310 at December 31. Finished goods inventory was $62,330 at January 1 and $47,740 at December 31. La} Compute cost of goods manufactured. ost of Goods Manufactured 358,550 =Mat Used {91 Compute cost of goods sold. ost of Goods Sold 373,140 = Begin Fin