me trial balance of Blossom Company at the end of its fiscal year, August 31, 2022, includes these accounts: Inventory $26.000: Purchases $149,900: Sales Revenue $191,000; Freight-Im ales Returns and Allowances $3,200 Freight-Out $1,900; and Purchases Returns and Allowances $6,800. The ending inventory is $20,000. repare a cost of goods sold section for the year ending August 31. BLOSSOM COMPANY Income Statement (Cost of Goods Sold section-Periodic system)
me trial balance of Blossom Company at the end of its fiscal year, August 31, 2022, includes these accounts: Inventory $26.000: Purchases $149,900: Sales Revenue $191,000; Freight-Im ales Returns and Allowances $3,200 Freight-Out $1,900; and Purchases Returns and Allowances $6,800. The ending inventory is $20,000. repare a cost of goods sold section for the year ending August 31. BLOSSOM COMPANY Income Statement (Cost of Goods Sold section-Periodic system)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![The trial balance of Blossom Company at the end of its fiscal year, August 31, 2022, Includes these accounts: Inventory $26,000: Purchases $149,900; Sales Revenue $191,000; Freight-In $9,100;
Sales Returns and Allowances $3,200; Freight-Out $1,900, and Purchases Returns and Allowances $6,800. The ending inventory is $20,000.
Prepare a cost of goods sold section for the year ending August 31.
BLOSSOM COMPANY
Income Statement (Cost of Goods Sold section - Periodic system)
#](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F213698ba-c389-4a04-9be8-56ed4ca683b8%2Fb4c6c394-82f3-4947-9185-b171ebaf36fa%2F4sgzgr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The trial balance of Blossom Company at the end of its fiscal year, August 31, 2022, Includes these accounts: Inventory $26,000: Purchases $149,900; Sales Revenue $191,000; Freight-In $9,100;
Sales Returns and Allowances $3,200; Freight-Out $1,900, and Purchases Returns and Allowances $6,800. The ending inventory is $20,000.
Prepare a cost of goods sold section for the year ending August 31.
BLOSSOM COMPANY
Income Statement (Cost of Goods Sold section - Periodic system)
#
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