Cost of Goods Sold ? Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 48,700 units will be produced, with the following total costs: Direct materials Direct labor 72,000 Variable overhead 25,000 Fixed overhead 195,000 Next year, Pietro expects to purchase $125,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Work-in-Process Inventory Inventory Beginning $4,000 $10,200 Ending $3,900 $12,200 Pietro expects to produce 48,700 units and sell 48,000 units. Beginning inventory of finished goods is $38,500, and ending inventory of finished goods is expected to be $30,000. Required: 1. Prepare a statement of cost of goods sold in good form. Pietro Frozen Foods, Inc. Statement of Cost of Goods Sold Required: 1. Prepare a statement of cost of goods sold in good form. Pietro Frozen Foods, Inc. Statement of Cost of Goods Sold For the Coming Year Cost of goods manufactured Add: Beginning finished goods Cost of goods available for sale Less: Ending finished goods Cost of goods sold 2. What if the beginning inventory of finished goods decreased by $4,750? What would be the effect on the cost of goods sold? by $