The following balances appear on the accounts of Greusel Fabrication:

$\backslash$table$[[,\backslash$table$[[$March $1],[($Beginning$)]],\backslash$table$[[$March $31],[($Ending$)]]],[$Direct materials inventory,$$42,000,$$$47,000],[$Work$-$in$-$process inventory,$68,000,72,200],[$Finished goods inventory,$48,500,44,200]]$

Direct materials used during the month amount to $$531,000$ and the cost of goods sold for the month was $$1,496,000.$

Required:

Prepare a cost of goods sold statement.

$\backslash$table$[[$GREUSEL FABRICATION$],[$Cost of Goods Sold Statement$],[$For the Month Ended March $31],[$Beginning work$-$in$-$process inventory,,,,,$$,68,000],[$Manufacturing costs:$],[$Direct materials:$],[$Beginning inventory,$$,42,000,,,,],[$Purchases$,,536,000,,,,],[$Materials available,,$576,000,,,,],[$Less: Ending inventory,,$47,000,,,,],[$Direct materials used,,,,$531,000,,],[$Other manufacturing costs,,,,$965,000,,],[$Total manufacturing costs,,,,,,$1,485,900],[$Total costs of work$-$in$-$process,,,,,$$,1,552,900],[$Less: Ending work$-$in$-$process,,,,,,$71,200],[$Cost of goods manufactured,,,,,$$,1,481,700],[$Beginning finished goods inventory,,,,,,$47,500],[$Finished goods available for sale,,,,,$$,1,529,200],[$Less: Ending finished goods inventory,,,,,,$43,200],[$Cost of goods sold,,,,,$$,1,486,000]]$