(Solution) - The trial balance of the Neville Mariner Company at the -(2025 Original AI-Free Solution)

Paper Details

The trial balance of the Neville Mariner Company at the end of its fiscal year, August 31, 2008, includes the following accounts: Merchandise Inventory $17,500; Purchases $149,400; Sales $200,000; Freight-in $4,000; Sales Returns and Allowances $4,000; Freight-out $1,000; and Purchase Returns and Allowances $2,000. The ending merchandise inventory is $25,000.

Instructions
Prepare a cost of goods sold section for the year ending August 31.