978-0078025877 Chapter 6 Solution Manual Part 6

subject Type Homework Help
subject Pages 9
subject Words 1459
subject Authors Cassy Budd, David M Cottrell, Theodore E. Christensen

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Chapter 06 - Intercompany Inventory Transactions
P6-27 (continued)
20X9 Downstream Transactions
Total
=
Re-sold
+
Ending
Inventory
Sales
90,000
70,000
20,000
COGS
54,000
42,000
12,000
Gross Profit
36,000
28,000
Gross Profit %
40.00%
20X9 Upstream Transactions
Total
=
Re-sold
+
Ending
Inventory
Sales
62,000
0
62,000
COGS
37,000
0
37,000
Gross Profit
25,000
0
Gross Profit %
40.32%
Investment in
Income from
West Co.
West Co.
Beginning
Balance
269,200
70% Net Income
14,000
14,000
70% Net Income
3,500
70% Dividends
20X8 Reversal
36,000
25,500
Deferred GP
25,500
36,000
20X8 Reversal
Ending Balance
290,200
24,500
Ending Balance
Reversal
36,000
301,000
Basic
24,500
25,200
Excess Reclass.
0
0
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Chapter 06 - Intercompany Inventory Transactions
108,000
242,000
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