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The June 30, 2021, year-end trial balance for Askew company contained the following information:

The June 30, 2021, year-end trial balance for Askew company contained the following information:
 

AccountDebitCredit
Inventory, 7/1/202033,700


Sales revenue

397,000
Sales returns13,700


Purchases257,000


Purchase discounts

7,700
Purchase returns

11,700
Freight-in20,400


 
In addition, you determine that the June 30, 2021, inventory balance is $41,700.
 
Required:
Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.

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Intermediate-Accounting-I   
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