Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product		$130,000		Advertising expense		$46,100
Depreciation on plant		64,500		Property taxes on plant		20,000
Property taxes on store		7,600		Delivery expense		26,800
Labor costs of assembly-line workers		120,900		Sales commissions		39,300
Factory supplies used		32,600		Salaries paid to sales clerks		54,900

Work in process inventory was $14,000 at January 1 and $16,700 at December 31. Finished goods inventory was $61,800 at January 1 and $49,800 at December 31.

1. compute cost of goods manufactured. 2. compute cost of goods sold