Question 3 - Reporting and Analyzing Inventory (20 marks) 3A The trial balance of Holland Company at the end of its fiscal year, August 31, 2021, 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 $19,000. Instructions Prepare a cost of goods sold section (periodic system) for the year ending August 31. (10 points) 3B Below is a series of cost of goods W X Y N sold sections for companies W, X, Y, and Z. W Beginning $ 150 $ 120 $ 700 inventory Purchases 1,600 Purchase returns 90 1,080 (d) BLANK (g) BLANK 290 and allowances Net purchases (a) BLANK 1,020 7,710 Freight-in 140 (e) BLANK Cost of goods (b) BLANK 1,230 (h) BLANK 8,050 $ (j) BLANK 43,590 (K) BLANK 42,290 2,240 (I) BLANK purchased Cost of goods 1,800 1,350 (i) BLANK 49,530 available for sale Ending inventory 310 (f) BLANK 1,150 6,230 Cost of goods sold (c) BLANK 1,230 7,600 43,300 Instructions Fill in the lettered blanks to complete the cost of goods sold sections (10 points)