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Given the following information, prepare in good form the cost of goods sold section of an income statement for 20x5. (7 points) Freight-In $ 12,000
Given the following information, prepare in good form the cost of goods sold section of an income statement for 20x5. (7 points)
| Freight-In | $ 12,000 |
| Merchandise Inventory, December 31, 20x4 | 45,000 |
| Merchandise Inventory, December 31, 20x5 | 51,000 |
| Purchases | 114,000 |
| Purchases Returns and Allowances | 4,200 |
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