The trial balance of G. Garbo Company at the end of its fiscal year, August 31, 1998, includes these accounts: Merchandise Inventory \(\$ 17,200\); Purchases \(\$ 142,400\); Sales \(\$ 190,000\); Freight-in \(\$ 4,000\); Sales Returns and Allowances \(\$ 3,000\); Freight-out \(\$ 1,000\); and Purchase Returns and Allowances \(\$ 2,000\). The ending merchandise inventory is \(\$ 26,000\).

\section*{Instructions}

Prepare a cost of goods sold section for the year ending August 31.