Use the information below for the year ended December 31, 2020: Inventories Finished goods inventory Materials inventory Work in process inventory Direct materials purchased Total direct labor costs Total indirect labor costs Factory Utilities Factory Depreciation $ Beginning Ending $75,000 $115,000 33,000 32,000 41,000 42,000 260,000 170,000 65,000 100,000 75,000 a) What is the cost of goods manufactured? $ b) What is the cost of goods sold