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.

Particulars                                                                  Amount

Beginning inventory, September 1, 2013              $18,870

Purchase                                                    $ 224,790

Less: Purchase return and allowance     $ 5,430

Net purchase                                             $ 219,360

Add: Freight in                                           $9,780

Cost of goods purchased                                         $229,140

Cost of goods available for sale                              $248,010

Less: Inventory August 31,2014                                $20,100

Cost of goods sold                                                   $227,910

statement of owner"s equity;