(Cost of Goods Sold Section—Periodic Inventory) The trial balance of the Neville Mariner Company at the end of its fiscal year, August 31, 2005, includes the following accounts: Merchandise Inventory

$17,500; Purchases $149,400; Sales $200,000; Freight-in $4,000; Sales Returns and Allowances $4,000;

Freight-out $1,000; and Purchase Returns and Allowances $2,000. The ending merchandise inventory is

$25,000.

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