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What is cost of goods sold for fiscal year

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Reference no: EM133209426

John Ltd is a wholly owned subsidiary by Tyler Ltd. On 3 June 2022, Tyler Ltd sold a batch of inventories to John Ltd for 1 million. John Ltd sold these inventories back to Tyler Ltd for 2.2 million.

From the perspective of the group consisting of John Ltd and Tyler Ltd, what is the cost of goods sold for the fiscal year ended 30 June 2022?

$0.9 million

$0.5 million

$1.5 million

$1.25 million

$1 million

Reference no: EM133209426

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