The trial balance of Sanchez Company at the end of its fiscal year, August 31, 2014, includes these accounts: Beginning Inventory $20,300; Purchases $220,000; Sales Revenue $196,500; Freight-In $9,600; Sales Returns and Allowances $4,300; Freight-Out $2,700; and Purchase Returns and Allowances $9,800. The ending inventory is $24,600. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2014.