Cost of Goods Sold Pietro Frozen Foods, Inc. produces frozen pizzas. For next year, Pletro predicts that 55,000 units will be produced, with the following total costs: Direct materials Direct labor 72,000 Variable overhead 25,000 Fixed overhead 185.000 Next year, Pietro expects to purchase $127,000 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 $12,600 Beginning $5,000 Ending 54,900 $14.000 Pietro expects to produce 55,000 units and sell 54,300 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 2. What if the beginning inventory of finished goods decreased by $3,7507 What would be the effect on the cost of goods sold