What was the amount of hanson''s cost of goods sold

Assignment Help Accounting Basics
Reference no: EM13133066

Hanson Company uses a periodic inventory system. For 2012, its beginning inventory was $74,000; purchases of inventory were $328,000; and inventory at the end of the period was $89,000. What was the amount of Hanson's cost of goods sold for 2012?

Reference no: EM13133066

Questions Cloud

What is meant by forensic-type fieldwork phase of an audit : What is meant by the forensic-type fieldwork phase of an audit? An AICPA Fraud Task Force suggests that if a forensic accountant is brought into an audit to conduct a separate investigation (and not an adjunct to an audit), what standards apply?
What are the limitation,uniqueness : What are the limitation,uniqueness and two illustration of bank reconciliation.
Total cash dividends problem : Nortan's outstanding stock consists of (a) 32,000 shares of noncumulative 8.00% preferred stock with a $10 par value and (b) 80,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and ..
Explain does the nmr spectrum and the ir spectrum look like : What does the 1H-NMR spectrum and the IR spectrum look like with notations on each peak on both spectra
What was the amount of hanson''s cost of goods sold : Hanson Company uses a periodic inventory system. For 2012, its beginning inventory was $74,000; purchases of inventory were $328,000; and inventory at the end of the period was $89,000. What was the amount of Hanson's cost of goods sold for 2012?
What pressure will the sample exert : A sample of gas with a volume of 750 mL exerts a pressure of 98 kPa at 30 c. what pressure will the sample exert when it is compressed to 250 mL and cooled to -25 degree celsius.
Determine if the tires were exceeding the guarantee : The manufacturer wanted to determine if the tires were exceeding the guarantee. At the .05 significant level, it was concluded that the tires are exceeding the manufacturer's guarantee.
Why is it sometimes important to allocate overhead costs : Why is it sometimes important to allocate overhead costs among products, services or some other grouping? Other times the allocations should be disregarded as in this case - why?
Vertex and axis of symmetry : Label the Vertex and the Axis of symmetry

Reviews

Write a Review

Accounting Basics Questions & Answers

  Preferred and common shareholders

The board of directors declared and paid a $3,000 dividend in 2009. In 2010, $15,000 of dividends are declared and paid. What are the dividends received by the preferred and common shareholders in 2010?

  Determining direct write off method

Gilkey Construction Company writes of the account of Arthur Blanks of $78,000. The journal entry to record this under the direct write off method is:

  Deduction in the property tax

The real property tax year in Adams County is the calendar year. The real property tax becomes a person liability of the owner of real property on January 1 in the current real property tax year 2009.

  Comprehensive income with illustration

Compare and contrast three classifications within other comprehensive income and illustrate with an example of each.

  Compute the current price of the bonds

Barry's Steroids Comapny has $1,000 par value bonds outstanding at 12 percent interest. The bonds will mature in 50 years. Compute the current price of the bonds if the percent yield to maturity is:

  University to avoid accounting recognition

Which of the following is not a condition that would permit a public college or private college or university to avoid accounting recognition of the value of its collections of art, historical treasures, and similar assets?

  Expense which is related to the company sole

In year 1 Laylor Company has revenues of $100,000, advertising expense of $22,000, depreciation of $15,000-what is expected for last four years. The cost of capital is 10%.

  Profit and loss agreement

Partners A and B have a profit and loss agreement with the following provisions: salaries of $41,600 and $38,400 for A and B, respectively; a bonus to A of 10% of net income after salaries and bonus; and interest of 10% on average capital balances..

  Techniques in business and economics

A rug manufacturer has decided to use 7 compatible colors in her rugs. However, in weaving a rug, only 5 spindles can be used. In advertising, the rug manufacturer wants to indicate the number of different color groupings for sale.

  Report based on intensive investigation of sales department

Management has decided to get a detailed report based on an intensive investigation of the financial position of the sales department, production department and development and research department.

  Determining capital structure: repurchase of stock

The Tivoli Company has no debt outstanding, and its financial position is given by the following data: What would the value of the firm be after this debt-for-stock restructuring of the firm is completed? What would be the price of Tivoli's stock aft..

  What will its average inventory level be during the year

A firm expects to sell 10,000 units of its product annually. It estimates that it costs $200 to place an order and that each unit costs $7 annually to carry in inventory. It takes 7 days to receive an order once it is placed, and the store is open..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd