The following balances are from the accounts of Tappan Parts:

	January 1 (Beginning)			December 31 (Ending)
Direct materials inventory	$	21,900		$	24,900
Work-in-process inventory		32,000			29,000
Finished goods inventory		5,200			7,200

Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $52,900.

Required:

Prepare a cost of goods sold statement.