The June 30, 2024, year-end trial balance for Askew Company contained the following information: In addition, you determine that the June 30,2024 , inventory balance is $40,000. Required: Calculate the cost of goods sold for the Askew Company for the year ending June 30,2024. The Kwik Company's inventory balance on December 31, 2024, was $165,000 (based on a 12/31/2.024 physical count) before considering the following transactions: 1. Goods shipped to Kwik fo.b. destination on December 20, 2024, were recelved on January 4, 2025. The invoice cost was $30,000. 2. Goods shipped to Kwik fo.b. shipping point on December 28, 2024, were received on January 5, 2025, The invoice cost was $17,000 3. Goods shipped from Kwik to a customer fo.b. destination on December 27, 2024, were received by the customer on January 3. 2025. The sales price was $40,000 and the inventory cost $22,000. 4. Goods shipped from Kwik to a customer fo.b. destination on December 26, 2024, were recelved by the customer on December 30, 2024. The sales price was $20,000 and the inventory cost $13,000. 5. Goods shipped from Kwlk to a customer fo.b. shipping point on December 28, 2024, were received by the customer on January 4, 2025. The sales price was $25,000 and the inventory cost $12,000. Required: Determine the correct inventory amount to be reported in Kwik's 2024 balance sheet