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, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in Debit Credit 32,600 386,000 12,600 246,000 6,600 10,600 18,200 In addition, you determine that the June 30, 2018, inventory balance is $40,600 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 Complete this question by entering your answers in the tabs below Required 1Required 2 Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2018 Cost of goods sold