Bristols Bicycles maintains inventory records under the perpetual inventory system. At 30 June 2015, the inventory balance determined by the system showed a value of $300000. However, on conducting a physical stocktake, ending inventory was calculated as being only $260000. An investigation revealed that the difference was due to two factors:

•    Bicycle theft, amounting to $32000

•    Destruction of parts on bicycles exhibited in the shop, $8000.

Bicycle sales for the year amounted to $1 000 000, purchases were $560 000 and the balance of inventory on hand at the beginning of the year was $220 000.

Required
Prepare the Cost of Sales and Inventory Control ledger accounts for the year ended 30 June 2015.