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  3. during 20x1 pumpkin corp. sold inventory to squash

During 20x1 Pumpkin Corp. sold inventory to Squash Corp. with a cost to Pumpkin Corp....

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Accounting

During 20x1 Pumpkin Corp. sold inventory to Squash Corp. with a cost to Pumpkin Corp. of $15,000.
In selling the inventory, Pumpkin Corp. set its selling price at a mark-up of 100% over its cost. At year-end,
Squash's inventory records included $6,000 of inventory from Pumpkin Corp.
During 20x2 Squash Corp. sold inventory to Pumpkin Corp. with a cost to Squash Corp. of $10,000.
In selling the inventory, Squash Corp. set its selling price to make a gross margin of 50%. At year-end,
Pumpkin's inventory records included $5,000 of inventory from Squash Corp.
During 20x3 Pumpkin Corp. sold inventory to Squash Corp. with a cost to Pumpkin Corp. of $20,000.
In selling the inventory, Pumpkin Corp. set its selling price at $40,000. At year-end, Squash Corp's inventory
records included $4,000 of inventory from Pumpkin Corp. In journal Entry Format

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