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How do you calculate the consolidated sales

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Reference no: EM133165226

Question - The following extracts relate to Jane and its wholly owned subsidiary Tom:

 

Jane

Tom

Statement of Financial Performance

Revenue

1,196,000

928,000

Cost of sales

888,000

670,000

 

Statement of Financial Position

Inventory

168,000

36,000

During the year the following transactions took place:

Jane's sales to Tom 20,000.

60% of these sales are still in inventory at balance date.

Jane makes 10% profit on sales (i.e., profit = 10% of the given sales figure)..

There is no intra-group profit on opening inventory.

Required -

How do you calculate the consolidated Sales?

How do you calculate the Consolidated Cost of Sales?

How do you calculate the consolidated inventory?

Reference no: EM133165226

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