Question: During 2 0 2 4 , Pride bought inventory for $ 1 1 2 , 0 0 0 and sold it to Strong for $

During 2024, Pride bought inventory for $112,000 and sold it to Strong for $140,000. Only half of the inventory purchase price had been remitted to Pride by Strong at year-end. As of December 31,2024,60% of these goods remained in the company's possession.
What is the consolidated total for equipment (net) at December 31,2024?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!