The trial balance of Sheridan Company at the end of its fiscal year, August 31, 2025, includes these accounts: Beginning Inventory $23,570, Purchases $224,020, Sales Revenue $185,200, Freight-In $9,770, Sales Returns and Allowances $4,400, Freight-Out $2,330, and Purchase Returns and Allowances $5,460. The ending inventory is $22,700. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2025.
The trial balance of Sheridan Company at the end of its fiscal year, August 31, 2025, includes these accounts: Beginning Inventory $23,570, Purchases $224,020, Sales Revenue $185,200, Freight-In $9,770, Sales Returns and Allowances $4,400, Freight-Out $2,330, and Purchase Returns and Allowances $5,460. The ending inventory is $22,700. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2025.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress
The trial balance of Sheridan Company at the end of its fiscal year, August 31, 2025, includes these accounts: Beginning Inventory
$23,570, Purchases $224,020, Sales Revenue $185,200, Freight-In $9,770, Sales Returns and Allowances $4,400, Freight-Out $2,330,
and Purchase Returns and Allowances $5,460. The ending inventory is $22,700.
Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2025.
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#
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alt
Cost of Goods Sold
Sales Revenue
Less Sales Returns and Allowances
E
Net Purchases
Add Freight-In
Cart of Conde Durchsend
$
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5
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8
T
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6
B
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H
SHERIDAN COMPANY
Cost of Goods Sold
For the Year Ended August 31, 2025
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0000
DOG
3000
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Transcribed Image Text:O
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Current Attempt in Progress
The trial balance of Sheridan Company at the end of its fiscal year, August 31, 2025, includes these accounts: Beginning Inventory
$23,570, Purchases $224,020, Sales Revenue $185,200, Freight-In $9,770, Sales Returns and Allowances $4,400, Freight-Out $2,330,
and Purchase Returns and Allowances $5,460. The ending inventory is $22,700.
Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2025.
W
#
3
X
alt
Cost of Goods Sold
Sales Revenue
Less Sales Returns and Allowances
E
Net Purchases
Add Freight-In
Cart of Conde Durchsend
$
4
SDE
C
R
F
70
5
V
8
T
G
6
B
Y
H
SHERIDAN COMPANY
Cost of Goods Sold
For the Year Ended August 31, 2025
7
N
U
30000000
0000
DOG
3000
J
8
M
1
K
9
O
alt
L
ctrl
71°F Cloudy
og up
delete
backspace
1
enter
shif
7
lock
a
4
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