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The following balances are from the accounts of Crabtree Machining Company:
| | January 1 (Beginning) | December 31 (Ending) |
| Direct materials inventory | $ | 98,900 | | $ | 108,400 | |
| Work-in-process inventory | | 109,800 | | | 104,500 | |
| Finished goods inventory | | 45,200 | | | 45,400 | |
| |
Direct materials purchased during the year amount to $514,100, and the cost of goods sold for the year was $1,885,000.
Required:
Prepare a cost of goods sold statement.
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