The following data have been taken from the accounting records of ABC Corporation for the current year.

Analyze the data and answer the following questions

Sales	$4000,000
Selling expenses	200,000
Manufacturing overhead	510,000
Direct labor	450,000
Administrative expenses	420,000
Purchases of raw materials	400,000
Finished goods inventory, beginning	410,000
Finished goods inventory, ending	470,000
Raw materials inventory, beginning	210,000
Raw materials inventory, ending	260,000
Work in process inventory, beginning	270,000
Work in process inventory, ending	150,000

1. What is the cost of goods manufactured (finished) for the year?

2. What is the cost of goods sold for the year?