The following balances are from the accounts of Crabtree Machining Company: January 1 (Beginning) December 31 (Ending) Direct materials inventory $ 98,700 $ 110,700 Work-in-process inventory 109,500 106,100 Finished goods inventory 45,800 44,300 Direct materials purchased during the year amount to $513,800, and the cost of goods sold for the year was $1,860,000. Required: Prepare a cost of goods sold statement