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The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory, 7/1/2020 32,100 Sales revenue 381,000 Sales returns
The June 30, 2021, year-end trial balance for Askew company contained the following information:
Account | Debit | Credit | ||
Inventory, 7/1/2020 | 32,100 | |||
Sales revenue | 381,000 | |||
Sales returns | 12,100 | |||
Purchases | 241,000 | |||
Purchase discounts | 6,100 | |||
Purchase returns | 10,100 | |||
Freight-in | 17,200 | |||
In addition, you determine that the June 30, 2021, inventory balance is $40,100. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
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