1. The following information is available for Hopkins Company:
Beginning inventory $ 45,000
Ending inventory 70,000
Freight-in 10,000
Purchases 270,000
Purchase returns and allowances 8,000
Instructions Compute each of the following:
Net Purchases:
Cost of Goods Purchased:
Cost of Goods Sold:
Beginning inventory $ 45,000
Ending inventory 70,000
Freight-in 10,000
Purchases 270,000
Purchase returns and allowances 8,000
Instructions Compute each of the following:
Net Purchases:
Cost of Goods Purchased:
Cost of Goods Sold: