Hopkins Company reported the following information related to inventory and sales: $$\begin{array} { l l r }
& \underline { \text { Units } } & \underline {\text { Unit Cost }} \
\text { Beginning inventory } & 1,000 & \$ 20 \
\text { Purchase No. } 1 & 7,000 & 22 \
\text { Purchase No. } 2 & 2,000 & 23
\end{array}$$ Sales-8,000 units at $35 per unit.
Required:
Compute the following amounts assuming a periodic inventory system:

Question

Hopkins Company reported the following information related to inventory and sales: $$\begin{array} { l l r } 
& \underline { \text { Units } } & \underline {\text { Unit Cost }} \
\text { Beginning inventory } & 1,000 & \$ 20 \
\text { Purchase No. } 1 & 7,000 & 22 \
\text { Purchase No. } 2 & 2,000 & 23
\end{array}$$ Sales-8,000 units at $35 per unit.
Required:
Compute the following amounts assuming a periodic inventory system:

Quizplus · Accepted Answer

The Answer of Hopkins Company reported the following information related to inventory and sales: $$\begin{array} { l l r } 
& \underline { \text { Units } } & \underline {\text { Unit Cost }} \
\text { Beginning inventory } & 1,000 & \$ 20 \
\text { Purchase No. } 1 & 7,000 & 22 \
\text { Purchase No. } 2 & 2,000 & 23
\end{array}$$ Sales-8,000 units at $35 per unit.
Required:
Compute the following amounts assuming a periodic inventory system:

Hopkins Company Reported the Following Information Related to Inventory and Sales