Chapter 4 - Consolidation w/ Inter-Company inventory Sales Flashcards
1
Q
How to find COGS with inter-company inventory sales
A
(Unadjusted COGS - Inter-company sales) + Profit Remaining in Ending Inventory
2
Q
How to find profit remaining in ending inventory
A
Total Profit * % Remaining Inventory
3
Q
How to find total profit in inter-company sale
A
Sale price * profit margin %
4
Q
How to calculate consolidated inventory reduction on inter-company sale
A
(Selling Price - COGS) * % Unsold Inventory
5
Q
How to calculate consolidated sales revenue when there was inter-company sale
A
Combine Sales Revenue of Consolidated Company and Remove Sales Revenue from Inter-Company Transaction
