What is the adjustment to cost of goods sold


Division corporation owns 85% of Regional operations Company. During 2005 division sells inventory costing $30,000 to regional for $40,000. regional does not sell any of this inventory to unrelated parties before the end of 2005. During 2006 division sells inventory costing $50,000 to regional for $65,000.ALso during 2006 regional sells all the inventory pruchased in 2005 and 2006 to unrelated entities. What is the adjustment to cost of goods sold in the 2006 worksheet elimination?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What is the adjustment to cost of goods sold
Reference No:- TGS072800

Expected delivery within 24 Hours