Edgar co acquired 60 of stendall co on january 1 2011

Reference no: EM13588909

Edgar Co. acquired 60% of Stendall Co. on January 1, 2011. During 2011, Edgar made several sales of inventory to Stendall. The cost and selling price of the goods were $140,000 and $200,000, respectively. Stendall still owned one-fourth of the goods at the end of 2011. Consolidated cost of goods sold for 2011 was $2,140,000 because of a consolidating adjustment for intra-entity sales less the entire profit remaining in Stendall's ending inventory.How would consolidated cost of goods sold have differed if the inventory transfers had been for the same amount and cost, but from Stendall to Edgar?

Reference no: EM13588909

Questions Cloud

What are internal controls why do companies need them what : what are internal controls? why do companies need them? what are some examples of internal controls? who is responsible

The city of shipley maintains an employee retirement fund a : the city of shipley maintains an employee retirement fund a single-employer defined benefit plan that provides annuity

Xyz company purchased inventory for 3450 on account the : xyz company purchased inventory for 3450 on account. the discount terms were 415 n30. xyz returned merchandise in the

Company will convert the operating lease to capital lease : company will convert the operating lease to capital lease. please see information below to determine the present value

Edgar co acquired 60 of stendall co on january 1 2011 : edgar co. acquired 60 of stendall co. on january 1 2011. during 2011 edgar made several sales of inventory to stendall.

In hiv patient how does readiness compare to non readiness : in hiv patient how does readiness compare to non readiness affect hiv treatment adherence and prevent hiv drug

Why are expenses paid for in advance reported as assets : why are expenses paid for in advance reported as assets? what happens to this asset as time passes and what are the

On january 1 2011 grace company had an 13500 balance in the : on january 1 2011 grace company had an 13500 balance in the accounts receivable account and a zero balance in the

A depreciation method in which a plant assets depreciation : a depreciation method in which a plant assets depreciation expense for a period is determined by applying a constant

User Account

All Pages