Exercise 14-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers 111,900 Sales commissions Factory supplies used $53,500 17,200 23,900 40,300 52,300 $128,000 Advertising expense 68,000 Property taxes on plant 8,180 Delivery expense 24,800 Salaries paid to sales clerks Work in process inventory was $13,500 at January 1 and $16,800 at December 31. Finished goods inventory was $62,500 at January 1 and $47,700 at December 31 Compute cost of goods manufactured Cost of goods manufactured LINK TO TEXT VIDEO: APPLIED SKILLS Compute cost of goods sold Cost of goods sold Click if you would like to Show Work for this question: Open Show Work