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X Co acquired 80% of the equity share capital in Y Co 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 3400,000(X) 2400,000(Y)
Cost of sales 1500,000(X) 1800,000(Y)During the year need 30 September 20X6, Y sold goods for $5000 each month to X at a mark up of 25%.At the end of the year X had 50% of these goods left in inventory.
What’s the group gross profit for the year ended 30 September 20X6?Hi Mr John…Could you solve this question …Many thanks …
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