Selected information from the separate and consolidated income statements of Poster Corporation and its subsidiary, Sign Company for the year ended December 31. 20x2 are as follows: Poster Corp. Sign Co. Consolidated Sales P 600,000 P 420,000 P 924,000 Cost of Goods Sold 450,000 335.000 693,000 P 150,000 P 85,000 P 231,000 Gross Profit During 2025, Poster Corporation sold goods to Sign Company at the same mark-up on cost that Poster uses for all sales. At December 31, 20x2, Sign had not paid all of these goods and still held 25% of them in inventory. What is the original cost of goods in Sign's inventory acquired from Poster Corp.? O 4.000 O 92,000 96,000 5,000

Selected information from the separate and consolidated income statements of Poster Corporation and its subsidiary, Sign Company for the year ended December 31. 20x2 are as follows: Poster Corp. Sign Co. Consolidated Sales P 600,000 P 420,000 P 924,000 Cost of Goods Sold 450,000 335.000 693,000 P 150,000 P 85,000 P 231,000 Gross Profit During 2025, Poster Corporation sold goods to Sign Company at the same mark-up on cost that Poster uses for all sales. At December 31, 20x2, Sign had not paid all of these goods and still held 25% of them in inventory. What is the original cost of goods in Sign's inventory acquired from Poster Corp.? O 4.000 O 92,000 96,000 5,000

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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