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The trial balance of Rachel Company at the end of its fiscalyear

The trial balance of Rachel Company at the end of its fiscalyear, August 31, 2007, includes these accounts: Merchandise Inventory $19,200; Purchases $144,000; Sales $190,000; Freight-in$8,000; Sales Returns and Allowances $3,000; Freight-out $1,000;and Purchase Returns and Allowances $5,000. The ending merchandise inventory is $25,000.

Complete the cost of goods sold section for the year ending August 31 below:

Apr 19 2018 View more View Less

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