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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FR Exams › FR Practice Exam 1
Parket Co acquired 60% of Suket Co on 1 January 20X7. The following extract has been taken from the individual statements of profit or loss for the year ended 31 March 20X7:
Parket Co
($)
Suket Co
($)
Cost of sales
710,000
480,000
Parket Co consistently made sales of $20,000 per month to Suket Co throughout the year. At the year end, Suket Co held $20,000 of this in inventory. Parket Co made a mark-up on cost of 25% on all sales to Suket Co.
What is Parket Co’s consolidated cost of sales for the year ended 31 March 20X7 (to the nearest whole $)?
i got this number $1134000
is it correct?
How did you get to that number? Show me and I can then let you know. Thanks