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The trial balance of Pollard Company at the end of its fiscal year, August 31, 2012, includes these accounts: Beginning Inventory $18,700; Purchases $154,000; Sales Revenue $190,000; Freight-in $8,000; Sales Returns and Allowances $3,000; Freight-out $1,000; and Purchase Returns and Allowances $5,000. The ending merchandise inventory is $21,000.Prepare a cost of goods sold section for the year ending August 31.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9966251

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