Using the following information for a manufacturer to compute the cost of goods manufactured and cost of goods sold.

Balances: Beginning Ending

Direct Materials $27,000 $28,000

Work-in-Process Inventory 40,000 32,000

Finished Goods Inventory 18,000 25,000

Other Information:

Purchases of direct materials $73,000

Direct labor 88,000

Manufacturing overhead 25,000