Upstream Intercompany Merchandise Transactions

Jimmitz Inc. is a subsidiary of Krocker Gear. Jimmitz sells shoe accessories to Krocker at a $25\%$ markup on cost$.$ Information on these intercompany merchandise transactions is below:

Required

a$.$ Prepare the working paper eliminating entries related to these intercompany transactions at December $31,2023.$

b$.$ Krocker sold shoes containing Jimmitz's shoe accessories during $2023.$

What amount did Krocker and Jimmitz record as cost of goods sold for the shoe accessories in $2023?$

Krocker: $

Jimmitz: $

What amount should appear in consolidated cost of goods sold for these shoe accessories?

$

Show how the eliminating entries in part a adjust Krocker's cost of goods sold balance to the correct consolidated balance.

Note: Enter your "Credit" answers in the same order that they were entered in part a$.$