Given the ledger accounts of GHI Company, prepare a statement of cost of goods manufactured and sold for the month of March 2023 using the given information:
oBeginning raw materials inventory: $5,000
oPurchases of raw materials: $25,000
oEnding raw materials inventory: $7,000
oDirect labor: $15,000
oManufacturing overhead: $10,000
oBeginning work in process inventory: $3,000
oEnding work in process inventory: $2,000
oBeginning finished goods inventory: $8,000
oEnding finished goods inventory: $6,000