The trial balance of Skysong Inc at the end of its fiscal year, August 31, 2022, indudes these accounts: Beginning Inventory $23,300; Purchases $186,330; Sales Revenue S192,400; Freight-In $7,.890; Sales Returns and Allowances $5,370; Freight-Out $3.100; and Purchase Returns and Allowances $7,010. The ending inventory is $22,000. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2022. Skysong, Inc. Income Statement For the Year Ended August 31. 2022 %24 > > > >

The trial balance of Skysong Inc at the end of its fiscal year, August 31, 2022, indudes these accounts: Beginning Inventory $23,300; Purchases $186,330; Sales Revenue S192,400; Freight-In $7,.890; Sales Returns and Allowances $5,370; Freight-Out $3.100; and Purchase Returns and Allowances $7,010. The ending inventory is $22,000. Prepare a cost of goods sold section (periodic system) for the year ending August 31, 2022. Skysong, Inc. Income Statement For the Year Ended August 31. 2022 %24 > > > >

Name: The trial balance of Skysong Inc. at the end of its fiscal year, Augu
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Description: The trial balance of Skysong Inc. at the end of its fiscal year, August 31, 2022, includes these accounts: Beginning Inventory$23,300; Purchases $186,330; Sales Revenue S192,400; Freight-In $7,890; Sales Returns and Allowances $5,370; Freight-Out$3.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter14: Adjustments For A Merchandising Business

Section: Chapter Questions

Problem 2MC: Under the periodic inventory system, what account is debited when an estimate is made for sales made...

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