The following balances are from the accounts of CrabtreeMachining Company:
| January 1 (Beginning) | December 31 (Ending) |
| Direct materials inventory | $ | 98,500 | | $ | 110,700 | |
| Work-in-process inventory | | 107,200 | | | 105,100 | |
| Finished goods inventory | | 43,100 | | | 46,400 | |
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Direct materials purchased during the year amount to $513,400,and the cost of goods sold for the year was $1,870,000.
Required:
Prepare a cost of goods sold statement.
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| | CRABTREE MACHINING COMPANY | | Cost of Goods Sold Statement | | For the Year Ended December 31 | | Beginning work-in-process inventory | | | $107,200 | | Manufacturing costs: | | | | | Direct materials: | | | | | Beginning inventory | $98,500 | | | | Purchases | 513,400 | | | | Materials available | $611,900 | | | | Less: Ending inventory | 110,700 | | | | Direct materials used | | $501,200 | | | Other manufacturing costs | | | | | Total manufacturing costs | | | 501,200 | | Total costs ofwork-in-process | | | $608,400 | | Less: Ending work-in-process | | | 105,100 | | Cost of goods manufactured | | | $503,300 | | Beginning finished goods inventory | | | 43,100 | | Finished goods available forsale | | | $546,400 | | Less: Ending finished goods inventory | | | 46,400 | | Cost of goods sold | | | $500,000 |
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************I HAVE FIGURED OUT EVERY NUMBER BESIDES THE OTHERMANUFACTURING COST!!!! HOW DO I FIGURE OUT THATNUMBER???????????????????? ONCE I FIGURE OUT THAT NUMBER IT WILLCHANGE THE OTHER NUMBERS, SO THE PROBLEM WILL BE CORRECT.
