The trial balance of G. Durler Company at the end of its fiscal year, August 31, 2008, includes these accounts: Merchandise Inventory \($17,200;\) Purchases \($149,000;\) Sales \($190,000;\) Freight-in \($4,000;\) Sales Returns and Allowances \($3,000;\) Freight-out \($1,000;\) and Purchase Returns and Allowances \($2,000\). The ending merchandise inventory is \($25,000.\)

Instructions

Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).