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The following balances are from the accounts of Crabtree Machining Company: January December 31 (Ending) Direct materials inventory Work-in-process inventory Finished goods inventory 108,800 44,000 $97,200 111,700 105,500 43,400 Direct materials purchased during the year amount to s518,000, and the cost of goods sold for the year was $1,855,000 Required: Prepare a cost of goods sold statement. PABTREE MACHINING COMPANY