PURP – Q373 Parentis ACCA Kaplan Exam Kit

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June 4, 2018 at 12:38 pm #455978
sapanalamba
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Hi,
I’m unsure how they have found the Purp for working 2 – Net assets of S at Acquisition.
(iii)Offspring sold Parentis goods for $15 million in the post acquisition period. $5 million of these goods are included in the inventory of Parentis at 31 March 2007. The profit made by Offspring on these sales was $6 million.
If someone could help it would be much appreciated.
June 4, 2018 at 2:41 pm #456011
MikeLittle
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If there was $6 million profit on a sale of $15 million, how much profit is there in inventory of one third of $15 million?
I’m guessing here but is it, by chance, one third of $6 million?
Come on!! This is not rocket science!
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