The following balances are from the accounts of Tappan Parts: January 1 December 31 Direct materials inventory Work-in-process inventory Finished goods inventory Beginning) (Ending) $ 22,200 25,400 29,500 7,200 32,700 5,900 Direct materials used during the year amount to $46,000 and the cost of goods sold for the year was 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