Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product

$$110,000$

Advertising expense

$$45,000$

Depreciation on plant

$60,000$

Property taxes on plant

$14,000$

Property taxes on store

$7,500$

Delivery expense

$21,000$

Labor costs of assembly$-$line workers

$120,000$

Sales commissions

$35,000$

Factory supplies used

$25,000$

Salaries paid to sales clerks

$50,000$

Instructions

Work in process inventory was $$12,000$ at January $1$ and $$15,000$ at December $31.$ Finished goods inventory was $$60,000$ at January $1$ and $$45,600$ at December $31.$

Compute cost of goods manufactured.

Compute cost of goods sold.