The following balances are from the accounts of Tappan Parts: (Beginning) (Ending) Direct materials inventory 21, 600 25, 200 32, 700 29, 200 Work-in-process inventory 7, 300 5, 700 Finished goods inventory Direct materials used during the year amount to s46, 100 and the cost of goods sold for the year was s53,000. Required Prepare a cost of goods sold statement. TAPPAN PARTS Cost of Goods Sold Statement For the Year Ended December 31 Beginning work-in-process inventory Manufacturing costs: Direct materials: 21, 600 Beginning inventory 21, 600 Materials available Less: Ending inventory 21, 600 Direct materials used Other manufacturing costs 21, 600 Total manufacturing costs 21, 600 Total costs of work in process Less: Ending work-in-process 21, 600 Cost of goods manufactured Beginning finished goods inventory 21, 600 Finished goods available for sale Less: Ending finished goods inventory 21, 600 Cost of goods sold