Business, 09.11.2019 03:31 soriajimmy85
Patti company owns 80% of the common stock of shannon, inc. in the current year, patti reports sales of
$10,000,000 and cost of goods sold of $7,500,000. for the same period, shannon has sales of $200,000
and cost of goods sold of $160,000. during the year, patti sold merchandise to shannon for $60,000 at
a price based on the normal markup. at the end of the year, shannon still possesses 30 percent of this
inventory.
compute consolidated cost of goods sold.
Answers: 3
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Patti company owns 80% of the common stock of shannon, inc. in the current year, patti reports sales...
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