The Following Information Is Available for Hopkins Company Instructions
Compute Each of the Following:
(A) Net Purchases
(B)

Essay

The following information is available for Hopkins Company: $$\begin{array} { l r } \text { Beginning inventory } & \$ 45,000 \\\text { Ending inventory } & 70,000 \\\text { Freight-in } & 10,000 \\\text { Purchases } & 290,000 \\\text { Purchase returns and allowances } & 8,000\end{array}$$ Instructions
Compute each of the following:
(a) Net purchases
(b) Cost of goods purchased
(c) Cost of goods sold