Please show all work and complete steps Silver regularly prices its products at...
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Accounting
Please show all work and complete steps
Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 208 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first!) $830,600. $775,800. $865,600. $925,400
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Silver regularly prices its products at cost plus a 40 percent markup for profit. Billy prices its sales at cost plus a 20 percent markup. The total sales reported by Silver include both intercompany sales and sales to nonaffiliates. What amount of cost of goods sold will be reported in the 208 consolidated income statement? (Hint: be sure to find the COGS amount reported separately by these two companies first!) $830,600. $775,800. $865,600. $925,400
