Exercise 1-8 (Video) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant $121,000 61,000 Advertising expense $46,000 Property taxes on plant 15,000 Property taxes on store 600 Delivery expense 22,000 Labor costs of assembly-line workers 111,000 Sales commissions 36,000 Factory supplies used 24,000 Salaries paid to sales clerks 51,000 Work in process inventory was $13,000 at January 1 and $16,600 at December 31. Finished goods inventory was $61,000 at January 1 and $45,700 at December 31. Compute cost of goods manufactured. Cost of goods manufactured LINK TO TEXT Compute cost of goods sold. Cost of goods sold LINK TO TEXT 102000-2021 John Wiley & Sons, Inc. Al Rights Reserved. A Division of bahn Wiley & Sons, Inc. VIDEOS SIMILAR EXERCISE VIDEO SIMILAR EXERCISE