Cost of Goods Manufactured and Sold Anglin Company, a manufacturing firm, has supplied the following information from its accounting records for the last calendar year: Direct labor cost Purchases of direct materials $496,310 377,890 Freight-in on materials 7,850 Factory supplies used 17,090 Factory utilities 55,280 Commissions paid 78,241 Factory supervision and indirect labor 166,270 < Advertising 145,660 Materials handling 15,910 Work-in-process inventory, January 1 204,030 Work-in-process inventory, December 31 117,320 Direct materials inventory, January 1 35,370 Direct materials inventory, December 31 32,720 Finished goods inventory, January 1 58,940 Finished goods inventory, December 31 63,480 Required: 1. Prepare a cost of goods manufactured statement. Anglin Company Statement of Cost of Goods Manufactured For the Year Ended December 31 Direct materials: Beginning inventory Add: Purchases Add: Freight-in on materials Materials available Less: Ending inventory $ 35,370 377,890 7,850 421,110 32,720