Valley Co incurred the following costs during the month: direct labor $120,000; factory overhead $$108,000; direct materials purchase $160,000. Inventories were costed as follows: Finished Goods Work In Process Direct Materials Beginning $27,000 $61,500 $37 500 Ending $26.000 $57,500 $43,500 Required: a. Calculate Cost of Goods Manufactured b. Calculate Cost of Goods Sold