Companies A, B and C are all part of the one economic entity, but all these are
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Question:
Companies A, B and C are all part of the one economic entity, but all these are separate legal entities and are required to prepare their own financial statements.
Company A sold Company B inventory that cost $56 000 for $78 000.
At the end of the same period Company B has three-quarters of that inventory still on hand and the rest has been sold to an entity outside the economic group.
At what amount should the inventory remaining in Company B be presented in Company B's own financial statements?
Group of answer choices
$42 000
$58 500
$56 000
$14 625
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