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X co acquired 80% of the equity share capital in Yco on 31 July 20X6. Extracts from the two companies’ statements of profit or loss for the year ended 30 September 20X6 were as follows:
revenue X co: 3400000 Y co: 2400000
Cost of sales X co: 1500000 Y co: 1800000during the year ended 30 September 20X6, Y co sold goods for $ 5000 each month to X co., at a mark up of 25%. At the end of the year X co had 50% of these goods left in inventory.
What is the group gross profit for the year ended 30 September 20X6?
I solved the question and got the answer 1999000, but the given answer is 2001000. PUP will be added to cost of sales not deducted, is not?
This is the question of BPP kit 26.25.You must ask in the Ask the Tutor Forum if you are wanting for me to answer – this forum is for students to help each other.
Your answer is correct, there is a mistake in the BPP answer.
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