The following balances are from the accounts of Tappan Parts:

	January 1 (Beginning)	December 31 (Ending)
Direct materials inventory	$	22,400		$	25,400
Work-in-process inventory		33,000			28,700
Finished goods inventory		5,300			7,500

Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,100.

Required:

Prepare a cost of goods sold statement.