The trial balance of Alexei Company at the end of its fiscal year, August 31, 2014, includes these accounts: Inventory $20,000; Purchases $169,000; Sales Revenue $220,000; Freight-lIn $5,000; Sales Discounts $3,200; Sales Returns and Allowances $3,800; Freight-Out $1,500; Purchase Discounts $2,900 and Purchase Returns and Allowances $2,400. The ending Inventory is $27,000. Instructions: (a) Prepare a cost of goods sold section for the year ending August 31 (periodic inventory). (b) Compute Alexei's gross profit and gross profit rate