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Intra group sales almost confused me today but thanks that you clarified two days ago before the exams ..
Intra group sales though it was CSPL , $6m from subsidiary to parent and 25 mark up on cost . $5m was sold to third party .
My purp was 25/125* $5m
Purp = $1 million
I just hope was right but I could not arrive at the profit for the year bcos of some inclusive elements like new investment thorough comprehensive income for both companies $3.4m and $1.1m respectively .Pup is calculated on the closing inventory of intra-group traded goods
You appear to have calculated it on the $5,000 that has been sold
But, even so, all is not lost … you’re unlikely to fail F7 because of 1 error alone
Move on and forget about F7 – there’s nothing you can do about it now
OK?
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