Accounting Policies

Parent Company has control over several entities. Parent Company reports inventory using the firstin, firstout (FIFO) cost formula. The other entities report inventories using the FIFO cost formula or the weightedaverage (WA) cost formula. See inventory values below.

	Parent Company	Entity A	Entity B	Entity C
FIFO	2000	1200	1500	2200
WA	1900	1000	1300	2000

Required: Utilize eIFRS to find authoritative guidance regarding the amount Parent Company should report for inventory in its consolidated financial statements? Be sure to cite specific authoritative literature to justify your answer.