Question 8 Lopez Corporation incurred the following costs while manufacturing its product Materials used in product $51,700 $125,700 Advertising expense Depreciation on plant 63,400 Property taxes on plant 23,100 8,100 Delivery expense Property taxes on store 24,700 Labor costs of assembly-line workers 116,100 Sales commissions 43,900 Factory supplies used 31,700 Salaries paid to sales clerks 52,800 Work in process inventory was $13,800 at January 1 and $17,600 at December 31. Finished goods inventory was $68,800 at January 1 and $45,700 at December 31 Compute cost of goods manufactured. Cost of goods manufactured $ Compute cost of goods sold. Cost of goods sold Click if you would like to Show Work for this question: Open Show Work