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Prepare a schedule to determine Shaquille’s cost of goods sold for the current year.

Shaquille Corporation began the current year with inventory of $60,000. During the year, its purchases totaled $120,000. Shaquille paid freight charges of $8,000 for these purchases. At the end of the year, Shaquille had inventory of $48,000.

Prepare a schedule to determine Shaquille’s cost of goods sold for the current year.

SHAQUILLE CORPORATION
Schedule for Cost of Goods Sold
For the Year Ended December 31, Current Year

Prepare a schedule to determine Shaquille's cost of goods sold for the current year.

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