The following balances are from the accounts of Tappan Parts: January 1 December 31 (Beginning) (Ending) Direct materials inventory Work-in-process inventory Finished goods inventory $ 21,500 32,700 5,800 $ 25,200 28,600 6,600 Direct materials used during the year amount to $45,600 and the cost of goods sold for the year was $53,500. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Manufacturing costs: Direct materials: Materials available Direct materials used Cost of Goods Sold Statement For the Year Ended December 31 Total manufacturing costs Total costs of work-in-process Cost of goods manufactured Finished goods available for sale Cost of goods sold