The trial balance of Mendez Company at the end of its fiscal year, August 31, 2025, 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 inventory is $21,000.

Instructions
Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2025.