End-of-period adjustments An extract from Birkenhead Ltd's unadjusted trial balance as at 30 June 2026 appears below. Birkenhead Ltd's reporting period ends on 30 June and it uses the perpetual method to record inventories transactions.

Additional information - On 24 June 2026, Birkenhead Ltd recorded a \$660 credit sale of goods costing \(\$ 600\). These goods, which were sold on FOB destination terms and were in transit at 30 June 2026, were included in the physical count.
- Inventories on hand at 30 June 2026 (determined via physical count) had a cost of \(\$ 97\) 800 and a net realisable value of \(\$ 97620\).
Required 1. Prepare any adjusting journal entries required on 30 June 2026.
2. Prepare the trading section of the statement of profit or loss and other comprehensive income for the year ended 30 June 2026.

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Inventories Sales Sales returns Cost of sales Inventories losses $ $ 97 200 3 498 235 882 6 339 318 065