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pls solve Post Inc. acquired 80% of Mitchell Co.'s outstanding common stock on January 1/1/2014. The entire difference between the amount paid and the fair
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Post Inc. acquired 80% of Mitchell Co.'s outstanding common stock on January 1/1/2014. The entire difference between the amount paid and the fair value of Mitchell's net assets is attributed to a previously unrecorded patent with a fair value of $112,500. The patent is being amortized over 20 years. During 2014, Mitchell sold Post inventory costing $60,000 for $70,000. 30% of this inventory was not sold to external parties until the following year. During 2015, Mitchell sold inventory costing $90,000 to Post for $115,000. Of this inventory, 25 % remained unsold on December 31, 2015. What is the amount of consolidated sales on December 31, 2015? Presented below are several figures reported for Post Inc. and Mitchell Co. as of December 31, 2015. What is the amount of consolidated sales on December 31, 201 5? *(1.5 Points) Post Inc. Mitchell co. Inventory $200,000 $100,000 sales 450,000 250,000 Cost of goods sale 250,000 190,000 Expenses 90,000 50,000 700,000 o 585,000 608,000 o 535,000 Presented below are several figures reported for Post Inc. and Mitchell Co. as of December 31, 2015. What is the amount of consolidated cost of goods on December 31, 2015? o O o 328,250 321,750 o 331,250 o 443,250 o Presented below are several figures reported for Post Inc. and Mitchell Co. as of December 31, 2015. What is the amount of consolidated inventory on December 31, 201 5? o 301,750 o 293,750 o 246,750 o 309,750Step by Step Solution
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