The following balances are from the accounts of Tappan Parts: January 1 December 31 (Beginning) (Ending) Direct materials inventory $ 21,600 $ 25,200 Work-in-process inventory 32,900 29,100 Finished goods inventory 5,900 7.100 Direct materials used during the year amount to $45,900 and the cost of goods sold for the year was $53,300 Required: Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Manufacturing costs: Direct materials: Materials available 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