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The trial balance of Oriole Company at the end of its fiscal year, August 31, 2020, includes these accounts: Inventory $19,500; Purchases $151,000: Sales Revenue
The trial balance of Oriole Company at the end of its fiscal year, August 31, 2020, includes these accounts: Inventory $19,500; Purchases $151,000: Sales Revenue $193,000; Freight In $4,200; Sales Returns and Allowances $3,750; Freight Out $1.750; and Purchase Returns and Allowances $2,900. The ending inventory is $24,000. Prepare a cost of goods sold section for the year ending August 31 (periodic inventory). Oriole Company Income Statement -cost of goods sold section (periodic system) $ $ $ $ Cost of Goods Purchased Total Expenses Dividends Expenses Net Purchases Net Income/(Loss) Cost of Goods Available for Sale Inventory, August 31, 2020 Revenues Inventory, September 1, 2019 Total Revenues
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