20. Presley Inc. acquired a 60% interest in Jackson enterprises several years ago during your 10 Jackson sold inventory costing $160,000 to Presley for $200,000. A total of 18% of the inventory was not sold to outsiders until your 11 during your 11 Jackson sold inventory costing $297,500 to Presley for $350,000. A total of 30% of the inventory outsiders until year 11 during your 11 Jackson sold inventory costing $297,500 to Presley for $350,000. A total of 30% of the inventory was not sold to outsiders until you're 12 and your 11 Presley reported cost of goods sold of $607,500. All Jackson reported $450,000. What is the consolidated cost of goods sold for your 11? a. $716,050 b. $698,950 c. $1,066,050

20. Presley Inc. acquired a 60% interest in Jackson enterprises several years ago during your 10 Jackson sold inventory costing $160,000 to Presley for $200,000. A total of 18% of the inventory was not sold to outsiders until your 11 during your 11 Jackson sold inventory costing $297,500 to Presley for $350,000. A total of 30% of the inventory outsiders until year 11 during your 11 Jackson sold inventory costing $297,500 to Presley for $350,000. A total of 30% of the inventory was not sold to outsiders until you're 12 and your 11 Presley reported cost of goods sold of $607,500. All Jackson reported $450,000. What is the consolidated cost of goods sold for your 11? a. $716,050 b. $698,950 c. $1,066,050

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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