Assignment Help - homework help

Gand still owned 40 of the goods at the end of the year


Question - Raylord Co. acquired 100% of Gand Inc. on January 5, 2013. During 2013, Raylord sold goods to Gand for $150,000 that cost Raylord $112,500. Gand still owned 40% of the goods at the end of the year. Cost of goods sold was $675,000 for Raylord and $400,000 for Gand. What was consolidated cost of goods sold?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Gand still owned 40 of the goods at the end of the year
Reference No:- TGS02857210

Now Priced at $20 (50% Discount)

Recommended (98%)

Rated (4.3/5)