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one question 2 required please do the answer Askew Company uses a periodic inventory system. The June 30, 2018, year-end trial balance for the company
one question 2 required please do the answer
Askew Company uses a periodic inventory system. The June 30, 2018, year-end trial balance for the company contained the following information: Debit 33, 600 Credit Account Merchandise inventory, 7/1/17 Sales Sales returns Purchases Purchase discounts Purchase returns Freight-in 396,000 13,600 256,000 7,600 11,600 20,200 In addition, you determine that the June 30, 2018. inventory balance is $41,600. 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 1 Required 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 1 Record the year-end adjusting entry for cost of goods sold. Note: Enter debits before credits. Date General Journal Debit Credit June 30, 2018Step by Step Solution
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