eBook Cost of Goods Sold Pietro Frozen Foods, Inc, produces frozen pizzas. For next year, Pietro predicts that 50,600 units will be produced, with the following total costs: Direct materials Direct labor 7 69,000 Variable overhead Fixed overhead 26,000 220,000 Next year, Pietro expects to purchase $128,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Ending Direct materials Inventory $6,000 $5,900 Work-in-Process Inventory $12,000 $14,000 Pietro expects to produce 50,600 units and sell 49,900 units. Beginning inventory of finished goods is $39,500, and ending inventory of finished goods is expected to be $31,000 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 $3,000 what would be the effect on the cost of goods sold Check My Work more Check My Work uses remang