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Prepare a cost of goods sold section

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Question - The trial balance of Sheffield Corp. at the end of its fiscal year, August 31, 2022, includes these accounts: Beginning Inventory $18,870; Purchases $224,790; Sales Revenue $204,200; Freight-In $9,780; Sales Returns and Allowances $4,720; Freight-Out $2,740; and Purchase Returns and Allowances $5,430. The ending inventory is $20,100. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2022.

Reference no: EM133052310

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