The following balances are from the accounts of Tappan Parts: Direct materials inventory Work-in-process inventory Finished goods inventory January 1 (Beginning). $ 21,900 32,800 5,200 December 31 (Ending) $ 25,400 28,800 7,300 Direct materials used during the year amount to $46,300 and the cost of goods sold for the year was $53,000. Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement Beginning inventory For the Year Ended December 31 Manufacturing costs: Direct materials: Beginning inventory Purchases Materials available Less: Ending inventory 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