Exercise 2-46 (Algo) Prepare Statements for a Manufacturing Company (LO 2-2, 4) The following balances are from the accounts of Santa Maria Parts: July 1 (Beginning) September 30 (Ending) Direct materials inventory $ 88,800 $ 106,400 Work-in-process inventory 81,600 49,200 Finished goods inventory 90,000 84,000 Direct materials purchased during the quarter amount to $600,000, and the cost of goods sold for the quarter was $1,860,000. Required: Prepare a cost of goods sold statement.