Askew Company uses a periodic inventory system. The June 30, 2018, year-end trial balance for the company contained the following information: Account Merchandise inventory, 7/1 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 32,100 381,000 12,100 241,000 6,100 10,100 17,200 In addition, you determine that the June 30, 2018, inventory balance is $40,100 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 Required 1Required 2 Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018 Cost of goods sold Required 1 Required 2 Prepare the year-end adjusting entry to record cost of goods sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the year-end adjusting entry for cost of goods sold Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2018