The following balances are from the accounts of Crabtree Machining Company: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 December 31 (Beginning) (Ending) $ 98,000 $ 110,400 108,500 105,400 42,500 43,400 2 Direct materials purchased during the year amount to $512,600, and the cost of goods sold for the year was $1.860,000. Required: Prepare a cost of goods sold statement. CRABTREE MACHINING COMPANY Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available Direct materials used Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold