Donlito8535
19.10.2019 •
Mathematics
Top company holds 90 percent of bottom company’s common stock. in the current year, top reports sales of $800,000 and cost of goods sold of $600,000. for this same period, bottom has sales of $300,000 and cost of goods sold of $180,000. during the current year, bottom sold merchandise to top for $100,000. the parent still possesses 40 percent of this inventory at the current year-end. bottom had established the transfer price based on its normal gross profit rate. what are the consolidated sales and cost of goods sold?
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Ответ:
690,000
Step-by-step explanation:
given,
sale of the company = $800,000
cost of the good sold = $600,000
percentage = \dfrac{800000-600000}{800000}
= 25%
unrealized gross profit = $100000
= ( $100000× 0.40 ) × 0.25
= $ 10,000
consolidated Sales = 800000 + 300,000 - 100000
= $ 1,000,000
Consolidated COGS = $600,000 + $180,000 - 100,000 + 10,000
= 690,000
Ответ:
Can you please explain better in the comments.
Step-by-step explanation: