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The trial balance of Rachel Company at the end of its fiscal year, August 31,2017,...

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Accounting

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The trial balance of Rachel Company at the end of its fiscal year, August 31,2017, includes these accounts: Inventory $29.200: Purchases $144,000; Sales Revenue $190,000; Freight-In $8,000; Sales Returns and Allowances $3,000; Freight-Out $1,000; and Purchases Returns and Allowances $5,000. The ending inventory is $25,000 Prepare a cost of goods sold section for the year ending August 31. RACHEL COMPANY Income Statement (Cost of Goods Sold section -Periodic system) For the Month Ended August 31,2017 eTextbook and Media

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