ton Company at 20% above cost. During 2024 and 2025, such sales amounted to $450,000 and $486,000,
Question:
ton Company at 20% above cost. During 2024 and 2025, such sales amounted to $450,000 and $486,000, respectively. At the end of each year, Sheraton Company had in its inventory one- third of the amount of goods purchased from Perkins during that year.
Required:
Prepare the workpaper entries necessary to eliminate the effects of the intercompany sales for 2024 and 2025.
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Part A 2024 1 Sales Purchases Cost of Goods Sold To eliminate intercompany sales 2 Ending Inventory ...View the full answer
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