Cost of Goods Sold Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 48,800 units will be produced, with the following total costs: Direct materials ? Direct labor 50,000 Variable overhead 16,000 Fixed overhead 235,000 Next year, Pietro expects to purchase $126,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process re as follows: Direct materials Work-in-Process Inventory Inventory Beginning $4,000 $13,300 Ending $3,900 $15,300 Pietro expects to produce 48,800 units and sell 48,100 units. Beginning inventory of finished goods is $46,500, and ending inventory of finished goods is expected to be $38,000. 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 2. What if the beginning inventory of finished goods decreased by $3,250? What would be the effect on the cost of goods sold? by s