Post Corporation owns 100 percent of Able Corporations common stock. During October, Past sold merchandise to...

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Post Corporation owns 100 percent of Able Corporations common stock. During October, Past sold merchandise to Able that cost S80,000 for $ 100,000. As of December 31, Able sold 50 percent of this merchandise for $120,000. What is the amount of unrealized intercompany profit in ending inventory at December 31 that should be eliminated in the consolidation process is $ 40,000. $ 20,000. $ 10,000. $ 50,000. Inventory remaining S100,000 x 50% - S50,000. The original cost of the unsold invertory is S40,00 (S50,000/1.25 - S40,000). S50,000 minun S40,00 - $10,000 unrealized inventory in the ending inventory. O $ 40,000. O 550.000 O $ 20,000. O $ 10,000 QUESTION 4 Reference question #3 what is the amount of consolidated cost of goods sold from this transaction? O $40,000 $50,000 $80,000 O $20,000 QUESTION 5 Reference question #3 what is the amount of consolidated gross profit from this transaction? $80,000 $40,000 $50,000 $100,000 Post Corporation owns 100 percent of Able Corporations common stock. During October, Past sold merchandise to Able that cost S80,000 for $ 100,000. As of December 31, Able sold 50 percent of this merchandise for $120,000. What is the amount of unrealized intercompany profit in ending inventory at December 31 that should be eliminated in the consolidation process is $ 40,000. $ 20,000. $ 10,000. $ 50,000. Inventory remaining S100,000 x 50% - S50,000. The original cost of the unsold invertory is S40,00 (S50,000/1.25 - S40,000). S50,000 minun S40,00 - $10,000 unrealized inventory in the ending inventory. O $ 40,000. O 550.000 O $ 20,000. O $ 10,000 QUESTION 4 Reference question #3 what is the amount of consolidated cost of goods sold from this transaction? O $40,000 $50,000 $80,000 O $20,000 QUESTION 5 Reference question #3 what is the amount of consolidated gross profit from this transaction? $80,000 $40,000 $50,000 $100,000

Answer rating: 100% (QA)

Part 1 Answer 10000 Inventory remaining 100000 50 50000 The or... View the full answer