Direct materials inventory Work-in-process inventory Finished goods inventory Direct materials used during the year amount to $45,800 and the cost of goods sold for the year was $52,900. Required: Prepare a cost of goods sold statement. Beginning work-in-process inventory Manufacturing costs: Direct materials: Beginning inventory Purchases Materials available Less: Ending inventory January 1 (Beginning)) $ 22,200 32,500 5,400 Direct materials used Other manufacturing costs Total manufacturing costs Total costs of work-in-process Less: Ending work-in-process, Cost of goods manufactured Beginning finished goods inventory Finished goods available for sale Less: Ending finished goods inventory Cost of goods sold December 31 (Ending) $ 24,800 29,100 7,500 TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Answer is not complete. $ 22,200 48,400 70,600 24,800 $ $ 45,800 7,100 X $ 32,500 29,100 5,400 7,500 52,900