The following balances are from the accounts of Tappan Parts:

	January 1 (Beginning)			December 31 (Ending)
Direct materials inventory	$	21,900		$	24,700
Work-in-process inventory		32,500			29,400
Finished goods inventory		5,800			7,200

Direct materials used during the year amount to $46,200 and the cost of goods sold for the year was $53,400.

Required:

Prepare a cost of goods sold statement.