1. The following information is available for Hopkins Company: Beginning inventory $ 45,000 Ending inventory 70,000 Freight-in 10,000 Purchases 270,000…

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:

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