The following information is available for the manufacturing operations of Argon Ltd. for the month of January: Direct materials purchased $40,000 Direct labour cost $20,000 Direct labour hours 1,000 Factory overhead rate per direct labour hour $12 Opening inventory January 1 Ending inventory January 31 Direct materials $25.000 $20.000 WIP $15.000 $10,000 Finished goods $45.000 $40.000 Required (SHOW YOUR WORK) a) What is the Cost Of Goods Manufactured? b) What is the Cost Of Goods Sold