Lopez Corporation incurred the following costs while manufacturing its product.
| Materials used in product |
$115,270 |
Advertising expense |
$43,600 |
| Depreciation on plant |
57,090 |
Property taxes on plant |
17,960 |
| Property taxes on store |
7,090 |
Delivery expense |
21,470 |
| Labor costs of assembly-line workers |
114,860 |
Sales commissions |
39,260 |
| Factory supplies used |
22,150 |
Salaries paid to sales clerks |
54,310 |
Work in process inventory was $10,040 at January 1 and $12,700 at December 31. Finished goods inventory was $61,130 at January 1 and $53,740 at December 31.
Compute the cost of goods manufactured:
Compute the cost of goods sold: