During 2011, Company P sold $50,000 of goods to subsidiary Company S at a profit of $12,000….

During 2011, Company P sold $50,000 of goods to subsidiary Company S at a profit of $12,000. One-fourth of the goods remain unsold at year-end. What specific adjustments are needed on the consolidated worksheet to deal with these issues? View Solution:
During 2011 Company P sold 50 000 of goods to subsidiary