ANSWER WITH SOLUTION

Question 21 1 pts 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 P 420,000 924,000 Cost of Goods Sold 450.000 335,000 693,000 Gross Profit P150,000 P85,000 P 231,000 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. What is the original cost of goods in Sign's inventory acquired from Poster Corp.? 4,000 92.000 96,000 5,000