Question
1. A parent company sold goods to its wholly-owned subsidiary for 3,750 representing cost plus 25% mark-up. At the end of the year, one-third of
1. A parent company sold goods to its wholly-owned subsidiary for 3,750 representing cost plus 25% mark-up. At the end of the year, one-third of the goods were still in inventory. How much was the unrealised profit in inventory?
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Principles Of Financial Accounting
Authors: Jerry J. Weygandt, Lorena Mitrione, Michaela Rankin, Keryn Chalmers, Paul D. Kimmel
3rd Edition
0730302296, 978-0730302292
