Create statement of cost of goods sold.

Sales $243,500 Purchases of materials 43,000 Direct labor 88,000 Indirect labor 2,300 Indirect materials 2,000 Depreciation of factory equipment 2,200 Depreciation of factory building 3,500 Selling expenses 10,000 Other factory overhead expenses 12,000 Materials inventory, December 31, 2019 9,000 1Work in process, January 1, 2019 18,000 Materials inventory, January 1, 2019 6,000 Work in process, December 31, 2019 22,500 Finished goods, January 1, 2019 29,000 Finished goods, December 31, 2019 22,000 Take note that the cost of indirect materials is included in the total purchases of materials for the year