accounting-The trial balance of D. Savage Company at the end of its fiscal year

QUESTION

The trial balance of D. Savage Company at the end of
its fiscal year, August 31, 2014, includes these accounts: Inventory $23,450;
Purchases $155,740; Sales Revenue $191,850; Freight-In $4,990; Sales Returns
and Allowances $4,000; Freight-Out $1,170; and Purchase Returns and Allowances
$2,970. The ending merchandise inventory is $29,990.
Prepare a cost of goods sold section for the year ending August 31 (periodic
inventory).

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ANSWER:

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