Gore Company makes products for sporting events. The following data are for the year ended December 31, 2019:

Prepare a Cost of Goods Manufactured Statement and compute the cost of goods sold. (Use a format as shown in Exhibit 17-5 in the textbook.)

Materials inventory, January 1, 2019 Materials inventory, December 31, 2019 Materials purchases Direct labor Work in process inventory, January 1, 2019 Work in process inventory, December 31, 2019 Manufacturing overhead Finished goods inventory, January 1, 2019 Finished goods inventory, December 31, 2019 $ 45,000 65,000 175,000 225,000 30,000 40,000 130,000 80,000 140,000