Portland Manufacturing had the following data for the period just ended: Work in process, Jan. 1 Work in process, Dec. 31 $ 25,000 35,000 Finished goods, Jan. 81,000 1 Finished goods, Dec. 66,500 31 Direct materials used 130,000 Direct labor 300,000 Factory depreciation 70,000 Sales 950,000 Advertising expense Factory utilities Indirect materials Indirect labor 60,000 30,000 25,000 40,000 Required: A. Calculate Portland's cost of goods manufactured. B. Calculate Portland's cost of goods sold.