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Business, 01.04.2020 21:57 potato3999

The trial balance of Sheridan Company at the end of its fiscal year, August 31, 2017, includes these accounts:

Beginning Inventory $23,570;

Purchases $224,020;

Sales Revenue $185,200;

Freight-In $9,770;

Sales Returns and Allowances $4,400;

Freight-Out $2,330;

Purchase Returns and Allowances $5,460.

The ending inventory is $22,700.

Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2017.

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