From the following account information, prepare an income statement cost of goods sold section in proper form:

Question:

From the following account information, prepare an income statement cost of goods sold section in proper form: Freight-In, $300; Merchandise Inventory, 12/31/14, $9,000; Purchases Discounts, $900; Merchandise Inventory, 12/1/14, $4,000; Purchases, $58,000; Purchases Returns and Allowances, $1,100.