Askew Company uses a periodic inventory system. The June $30,2018,$ year$-$end trial balance for the company contained the following information:

Account Debit Credit

Merchandise inventory, $7/1/1733,200$

Sales $392,000$

Sales returns $13,200$

Purchases $252,000$

Purchase discounts $7,200$

Purchase returns $11,200$

Freight$-$in $19,400$

In addition, you determine that the June $30,2018,$ inventory balance is $$41,200.$

Required:

$1.$ Calculate the cost of goods sold for the Askew Company for the year ending June $30,2018.$

$2.$ Prepare the year$-$end adjusting entry to record cost of goods sold.