Gains from sales of assets other than inventory are shown as part of sales revenue on the income statement. True False An entry to record the amount of inventory shrinkage decreases both assets and equity. True False Hanson Company uses a periodic inventory system. For 2014, 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 2014? $343,000 $328,000 $313,000 $165,000 The following are strong internal control measures over cash disbursements except for: All checks should be prenumbered. Unused checks should be locked up. The person approving the payment should also sign the check. The payment must be recorded on the books by someone other than the check signer