Solution-What is original cost of goods in sign inventory

What is original cost of goods in sign inventory acquired

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Question - Selected information from the separate and consolidated income statements of Poster Corporation and its subsidiary, Sign Company for the year ended December 31, 20x2 are as follows:

	Poster Corp.	Sign Co.	Consolidated
Sales	P600,000	P420,000	P924,000
Cost of Goods Sold	450,000	335,000	693,000
Gross Profit	P150,000	P85,000	P231,000

During 2025, Poster Corporation sold goods to Sign Company at the same mark-up on cost that Poster uses for all sales. At December 31, 20x2, Sign had not paid all of these goods and still held 25% of them in inventory.

Required - What is the original cost of goods in Sign's inventory acquired from Poster Corp.?

Reference no: EM133144873

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What is original cost of goods in sign inventory acquired

Reference no: EM133144873

Reference no: EM133144873

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