Question 1 of 12 < > View Policies -/12.5 Current Attempt in Progress The trial balance of Crane Company at the end of its fiscal year, August 31, 2022, includes these accounts: Inventory $40,000: Purchases $153,400, Sales Revenue $191.000; Freight-In $9.600: Sales Returns and Allowances $4,600, Freight-Out $1,400; and Purchases Returns and Allowances $6,000. The ending inventory is $27,000. Prepare a cost of goods sold section for the year ending August 31. CRANE COMPANY Income Statement (Cost of Goods Sold section-Periodic system) For the Year Ended August 31, 2022 Save for Later Attempts: 0 of 1 used Submit Answer