Coldplay Corporation incurred the following costs while manufacturing its product.

Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $55,600 at December 31.Instructions(a) Compute cost of goods manufactured.(b) Compute cost of goodssold.

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Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant $100,000 60,000 $45,000 14,000 Delivery expense Sales commissions Salaries paid to sales clerks 7,500 110,000 23,000 35,000 50,000