The following balances appear on the accounts of Greusel Fabrication: Direct materials used during the month amount to $534,000 and the cost of goods sold for the month was $1,526,000. Required: Prepare a cost of goods sold statement. \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ Answer is complete but not entirely correct. } \\ \hline \multicolumn{4}{|c|}{ GREUSEL FABRICATION } \\ \hline \multicolumn{4}{|c|}{ Cost of Goods Sold Statement } \\ \hline \multicolumn{4}{|c|}{ For the Month Ended March 31} \\ \hline Jeginning work-in-process inventory & & & 71,000 \\ \hline \multicolumn{4}{|l|}{ Manufacturing costs: } \\ \hline \multicolumn{4}{|l|}{ Direct materials: } \\ \hline Purchases & $539,000 & & \\ \hline Beginning inventory & 45,000 & & \\ \hline Materials available & $584,000 & & \\ \hline Less: Ending inventory & 50,000 & & \\ \hline Direct materials used & & $534,000 & \\ \hline Other manufacturing costs & & 991,900 & \\ \hline otal manufacturing costs & & & 1,525,900 \\ \hline otal costs of work-in-process & & & $1,596,000 \\ \hline ess: Ending work-in-process & & & 75,200 \\ \hline ost of goods manufactured & & & $1,521,700 \\ \hline Jeginning finished goods inventory & & & 51,500 \\ \hline inished goods available for sale & & & $1,573,200 \\ \hline ess: Ending finished goods inventory & & & 47,200 \\ \hline zost of goods sold & & & $1,526,000 \\ \hline \end{tabular}