The following balances are from the accounts of Crabtree Machining Company:

	January 1 (Beginning)			December 31 (Ending)
Direct materials inventory	$	99,900		$	110,700
Work-in-process inventory		108,900			105,500
Finished goods inventory		43,900			43,300

Direct materials purchased during the year amount to $516,700, 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
Beginning work-in-process inventory			$108,900
Manufacturing costs:
Direct materials:
Beginning inventory	$99,900
Purchases	527,500
Materials available	$627,400
Less: Ending inventory	(110,700)
Direct materials used		$516,700
Other manufacturing costs		1,128,900
Total manufacturing costs			1,645,600
Total costs of work-in-process			$1,754,500
Less: Ending work-in-process
Cost of goods manufactured			$1,754,500
Beginning finished goods inventory
Finished goods available for sale			$1,754,500
Less: Ending finished goods inventory
Cost of goods sold			$1,754,500