The following balances are from the accounts of Tappan Parts:

	January 1 (Beginning)			December 31 (Ending)
Direct materials inventory	$	21,600		$	24,800
Work-in-process inventory		32,200			28,600
Finished goods inventory		5,700			6,700

Direct materials used during the year amount to $45,500 and the cost of goods sold for the year was $53,400.

Required:

Prepare a cost of goods sold statement.