Question
Nodus Co. acquired 100% of Aiello Inc. on January 2, 2016. During 2016, Nodus sold goods to Aiello for $300,000 that cost Nodus $220,000. Aiello
Nodus Co. acquired 100% of Aiello Inc. on January 2, 2016. During 2016, Nodus sold goods to
Aiello for $300,000 that cost Nodus $220,000. Aiello still owned 30% of the goods at the end of the year. Cost of goods sold was $985,000 for Nodus and $650,000 for Aeillo.
What was consolidated cost of goods sold?
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Security And Loss Prevention An Introduction
Authors: Philip Purpura CPP Florence Darlington Technical College
7th Edition
0128117958, 9780128117958
