The following balances are from the accounts of Tappan Parts: January 1 (Beginning) Direct materials inventory Work-in-process inventory Finished goods inventory $ 21,600 32,800 5,400 December 31 (Ending) $ 24,600 29,200 6,800 Direct materials used during the year amount to $46,400 and the cost of goods sold for the year was $53,400. Required: Prepare a cost of goods sold statement. Answer is not complete. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: