The trial balance of Roman Company at the end of its fiscal year, August 31, 2014, includes these accounts: Inventory $17,200; Purchases $149,000; Sales Revenue $190,000; Freight-In $5,000; Sales Returns and Allowances $3,000; Freight-Out $1,000; and Purchase Returns and Allowances $6,000. The ending inventory is $14,000.

Instructions

Prepare a cost of goods sold section for the year ending August 31 (periodic inventory).