The following balances appear on the accounts of Greusel Fabrication:

March $1($Beginning$)$ March $31($Ending$)$

Direct materials inventory $ $44,000$ $ $49,000$

Work$-$in$-$process inventory $70,00074,200$

Finished goods inventory $50,50046,200$

Direct materials used during the month amount to $$533,000$ and the cost of goods sold for the month was $$1,516,000.$

Required:

Prepare a cost of goods sold statement.