CH 2 HW i 2 The following balances are from the accounts of Tappan Parts. 2 January 1 (Beginning) Direct materials inventory points Work-in-process inventory Finished goods inventory 962,000 1,354,000 312,000 December 31 (Ending) 884,000 1,430,000 364,000 eBook Print References Mc Graw Hill Saved Help Save & Exit Submit Direct materials used during the year amount to $1,196,000 and the cost of goods sold for the year was $1,378,000. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory $ 962,000 Manufacturing costs: Direct materials: Beginning work-in-process inventory Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold < Prev 2 of 5 Next > Check my work