Pina Colada Limited reported the following selected data for the year ended December 31, 2024: purchases $179,400; purchase returns and allowances $6,060; purchase discounts $18,780; freight in $4,800; freight out $10,380; beginning inventory $96,600; and ending inventory $110.400. Prepare the cost of goods sold section for Pina Colada in a multiple-step statement of income.

Pina Colada Limited reported the following selected data for the year ended December 31,2024 : purchases $179,400; purchase returns and allowances $6,060; purchase discounts $18,780; freight in $4,800; freight out $10,380; beginning inventory $96,600; and ending inventory $110,400. (a) Prepare the cost of goods sold section for Pina Colada in a multiple-step statement of income