(Answered) Exercise 14-8 part level submissionlopez corporation

Accounting

Exercise 14-8 (Part Level Submission)

Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product	$128,020	Advertising expense	$52,110
Depreciation on plant	66,220	Property taxes on plant	24,570
Property taxes on store	8,020	Delivery expense	22,650
Labor costs of assembly-line workers	117,080	Sales commissions	36,130
Factory supplies used	25,170	Salaries paid to sales clerks	59,610

Work in process inventory was $14,940 at January 1 and $16,630 at December 31. Finished goods inventory was $68,310 at January 1 and $45,790 at December 31.

Please answer and show the work for how you get

A. Cost of goods Manufactured

B. Cost of goods Sold

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