210 business is located in Town Two. However, each of the distributors operates in both towns. During the year, a bridge connecting these two towns has been damaged. Wary of the disruption of their business operations, ANCILLIARY and SUBORDINATE agreed to exchange inventories of oil so that each could maintain its operations in both towns. b. Sold goods agreement the produc sale provid be refunde estimate th Case #1: 1. ANCILLIARY agreed to exchange its inventory of "premium" oil in Town One with SUBORDINATE's inventory of "diesel oil in Town Two. ANCILLIARY's "premium" oil has a fair value of P4M and carrying amount of P3.5M while SUBORDINATE's "diesel" oil has a fair value of P3.8M. How much shall ANCILLIARY recognize from the inventory exchange? a. 3,800,000 revenue d. 500,000 gain b. 4,000,000 revenue c. 200,000 gain c. Sold goods sale agreer of the proc sale provid estimate tl d. Sold good agreemen be refund reliably es Sold goo e. 0 P10,000. based on