Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $129,400 Advertising expense $46,700 Depreciation on plant 63,100 Property taxes on plant 19,100 Property taxes on store 8,510 Delivery expense 29,900 Labor costs of assembly-line workers 114,900 Sales commissions 38,300 Factory supplies used 27,900 Salaries paid to sales clerks 59,000 Work in process inventory was $13,300 at January 1 and $17,000 at December 31. Finished goods inventory was $69,700 at January 1 and $48,400 at December 31.

a) Compute cost of goods manufactured.

b) Compute cost of goods sold.