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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 32,900 Sales revenue 389,000 Sales returns
The June 30, 2021, year-end trial balance for Askew company contained the following information:
| Account | Debit | Credit | ||
| Inventory, 7/1/2020 | 32,900 | |||
| Sales revenue | 389,000 | |||
| Sales returns | 12,900 | |||
| Purchases | 249,000 | |||
| Purchase discounts | 6,900 | |||
| Purchase returns | 10,900 | |||
| Freight-in | 18,800 | |||
In addition, you determine that the June 30, 2021, inventory balance is $40,900. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
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