Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 54,600 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead 52,000 27,000 205,000 Next year, Pietro expects to purchase $122,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Ending Direct materials Inventory $7,000 $6,900 Work-in-Process Inventory $14,600 $16,600 Pietro expects to produce 54,600 units and sell 53,900 units. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. 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 Les Ending finished goods. Cost of goods sold F Check My Work See Cornerstone 2.3 2. What if the beginning inventory of finished goods decreased by $5,250? What would be the effect on the cost of goods sold? by F