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Business, 21.05.2020 02:05 austinlogan3218
Poseidon Co. holds 70% of the common stock of Saturn Co. In the current year, Poseidon report sales of $2,400,000 and cost of goods sold of $1,800,000. For this same period, Saturn has sales of $900,000 and cost of goods sold of $540,000. During the current year, Saturn sold merchandise to Poseidon for $300,000. Poseidon still possesses 40% of this inventory at the end of the current year. Saturn had established the transfer price based on its normal markup. What are consolidated sales and cost goods sold
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Poseidon Co. holds 70% of the common stock of Saturn Co. In the current year, Poseidon report sales...
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