59. Hampton Company had the following inventory balances at the beginning and end of the year:
During the year, the company purchased $100,000 of raw material and spent $340,000 on direct labour. Other data: manufacturing overhead incurred, $450,000; sales, $1,560,000; selling and administrative expenses, $90,000; income tax rate, 30%. Required: A. Calculate cost of goods manufactured. B. Calculate cost of goods sold. C. Determine Hampton's net income.