The following selected items appeared in the adjusted trial balance columns of the worksheet for Artex Company on December 31, 2016. From this information, prepare the section of the statement of cost of goods manufactured relating to the cost of raw materials used:
____________________________________Dr. Cr.
Finished Goods Inventory..................$ 70,000.........$72,000
Work in Process Inventory....................85,000...........90,000
Raw Materials Inventory......................45,000...........48,000
Materials Purchases...........................795,000...................
Purchases Returns and Allowances..............................7,900
Freight In (on Materials Purchases)..........30,000...................