Cost of goods sold statement: The following data are provided by the controller of the Metaxas Corporation Cash. $240,000 Accounts receivable. 348,000 Inventories: January 1 December 31 Finished goods.... $44,200 $66,000 Work in process.. 29,800 38,800 Materials. 88,000 64,000 Materials purchased. $366,000 Sales discount... 8,000 Factory overhead (excluding depreciation). 468,400 Marketing and administrative expenses (excluding depreciation). 344,200 Depreciation (90% manufacturing 10% marketing and administrative expenses). 116,000 Sales.. 1,844,000 Direct labor. 523,600 Freight on materials purchased.. 6,600 Rental income... 64,000 Interest on bonds payable.. 16,000 Required: Cost of goods sold statement