Refer to Exercise 6-7. Using the same figures, assume that the sales were upstream instead of downstream.
Question:
Refer to Exercise 6-7. Using the same figures, assume that the sales were upstream instead of downstream.
Required:
Prepare the workpaper entries necessary to eliminate the effects of the intercompany sales for 2011 and 2012.
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20 11 1 Sales 450000 Purchases Cost of Goods Sold 450000 2 Ending Inventory Income Statement CoGS 25...View the full answer
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