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 $45,600 at December 31.

Compute cost of goods manufactured.

Cost of goods manufactured

Compute cost of goods sold.

Cost of goods sold

Materials used in product $120,000Advertising expense $45,000 Property taxes on plant Depreciation on plant Property taxes on store Labor costs of assembly- 60.000 14,000 7,500 Delivery expense 21,000 line workers 110,000 Sales commissions 35,000 Salaries paid to sales clerks Factory supplies used 23,000 50,000