The following balances (in thousands of dollars) are from the accounts of Birwood Furniture: January 1 (Beginning) December 31 (Ending) Direct materials inventory Work-in-process inventory Finished goods inventory ($000) $ 862 ($000) $ 934 1,304 1,480 289 414 Direct materials used during the year amount to $2,596,000 and the cost of goods sold for the year was $2,778,000. Required: Prepare a cost of goods sold statement. Note: Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234). Manufacturing costs: Direct materials: Materials available BIRWOOD FURNITURE Cost of Goods Sold Statement For the Year Ended December 31 ($000)