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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
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?
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