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The trial balance of Skysong, Inc. at the end of its fiscal year, August 31, 2022, includes these accounts: Beginning Inventory $23,300; Purchases $186,330; Sales
The trial balance of Skysong, Inc. at the end of its fiscal year, August 31, 2022, includes these accounts: Beginning Inventory $23,300; Purchases $186,330; Sales Revenue $192,400; Freight-in $7,990; Sales Returns and Allowances $5,370; Freight-Out $3,100; and Purchase Returns and Allowances $7,010. The ending inventory is $22,000. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2022. Skysong, Inc. Income Statement August 31, 2022 Inventory, September 1, 2021 VI Less Net Purchases Cost of Goods Purchased T Cost of Goods Available for Sale OTTO Inventory, August 31, 2022 Cost of Goods Sold
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