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A company's trial balance shows the following balances: Account Balance ($) Raw Materials Inventory $2,200,000 Work in Process Inventory $2,090,000 Finished Goods Inventory $2,280,000 Direct

A company's trial balance shows the following balances:

Account

Balance ($)

Raw Materials Inventory

$2,200,000

Work in Process Inventory

$2,090,000

Finished Goods Inventory

$2,280,000

Direct Labor

$2,090,000

Factory Rent

$880,000

Factory Utilities

$477,000

Prepare a cost of goods sold statement using the absorption costing method.

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