From the following account information, prepare an income statement cost of goods sold section in proper form:

Question:

From the following account information, prepare an income statement cost of goods sold section in proper form: Freight-In, $400; Merchandise Inventory, 12/31/17, $9,500; Purchases Discounts, $800; Merchandise Inventory, 12/1/17, $7,600; Purchases, $61,000; Purchases Returns and Allowances, $1,300?