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Determine the consolidated inventory figure

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Reference no: EM133169088

Question - The following extracts relate to Pan and its wholly owned subsidiary Skillet:

 

Pan

Skillet

Statement of Financial Performance

Revenue

1,196,000

928,000

Cost of sales

888,000

670,000

Statement of Financial Position

Inventory

168,000

36,000

During the year the following transactions took place:

-Pan's sales to Skillet 20,000.

-60% of these sales are still in inventory at balance date.

-Pan makes 10% profit on sales (i.e., profit = 10% of the given sales figure)..

-There is no intra-group profit on opening inventory.

Required - Determine the consolidated inventory figure?

a. 224,000

b. 202,800

c. 184,000

d. 205,200

e. 206,000

f. 202,000

Reference no: EM133169088

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