The June 30, 2021, year-end trial balance for Askew company contained the following information: Account Debit Credit Inventory, 7/1/2020 32,500 Sales revenue 385,000 Sales returns 12,500 Purchases 245,000 Purchase discounts 6,500 Purchase returns 10,500 Freight-in 18,000

In addition, you determine that the June 30, 2021, inventory balance is $40,500.

Required:

1. Calculate the cost of goods sold for the Askew Company for the year ending June 30, 2021.
2. Prepare the year-end adjusting entry to record cost of goods sold.

1696 hundred thousand

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

3+x

step-by-step explanation: