The trial balance of G. Garbo Company at the end of its fiscal year, August 31, 2001, 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.

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