URCES Question 1 The trial balance of Sandhill Co. at the end of its fiscal year, August 31, 2017, includes these accounts: Beginning Inventory $24,420; Freight-In $9,900; Prepare a cost of goods sold section (penodic system) for the year ending August 31, 2017 Purchases $153,780; Sales Revenue $192,600; Sales Returns and Allowances $3,880; Freight-Out $1,850, and Purchase Returns and Allowances $7.450. The ending inventory is $24,800