Owen Stores produces dresses. During the current year, the company incurred the following costs:
Factory rent	$ 129,000
Direct labor used	$ 420,000
Factory utilities	$ 100,000
Direct materials purchases	$ 725,000
Indirect materials	$ 102,000
Indirect labor	$ 77,000
Inventories for the year were:
January 1	December 31
Direct materials	$ 250,000	$ 145,000
Work in process	$ 150,000	$ 136,000
Finished goods	$ 300,000	$290,000
1. Calculate Cost of Good Manufactured
2. Calculate Cost of Goods Sold