Last 4 entries.

The trial balance of Pina Colada Corp. at the end of its fiscal year, August 31, 2022, includes these accounts: Inventory $19,900, Purchases $157,000, Sales Revenue $187,000, Freight-In $7,300, Sales Returns and Allowances $2,900, Freight-Out $1,100, and Purchase Returns and Allowances $5,400. The ending inventory is $22,000. Prepare a cost of goods sold section for the year ending August 31, 2022 (periodic inventory). Pina Colada Corp Income Statement-cost of goods sold section (periodic system) For the Year Ended August 31, 2022 $ Inventory, September 1, 2021 Purchases $ TA 157000 Less Purchase Returns and Allowances 5400 Net Purchases 151600 Add : Freight-In 7300 Cost of Goods Purchased Cost of Goods Available for Sale : Inventory. August 31, 2022 Less Cost of Goods Sold $