The following balances appear on the accounts of Greusel Fabrication: Direct materials inventory Work-in-process inventory Finished goods inventory March 1 (Beginning) March 31 (Ending) $ 48,000 73,200 $ 43,000 69,000 49,500 45,200 Direct materials used during the year amount to $532,000 and the cost of goods sold for the year was $1,506,000. Required: Prepare a cost of goods sold statement.