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Creme purchased 60% of the equity shares in Fraiche on 1 January 20X1. During the year ended 31 December 20X1. Fraiche sold inventory to Creme

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Creme purchased 60% of the equity shares in Fraiche on 1 January 20X1. During the year ended 31 December 20X1. Fraiche sold inventory to Creme at a sales price of 50,000. All of the goods remained in Creme's inventory. Fraiche applied a margin of 20%. Extracts from the statement of profit or loss for the two entities are shown below: Creme Fraiche 000 E000 Revenue 1,000 750 Cost of sales (650) (250) What would be the revenue and cost of sales figures reported in the consolidated statement of profit or loss for the year ended 31 December 20X1? Answer to the nearest 000 O a. Revenue 1700 Cost of sales 840 O b. Revenue 1700 Cost of sales 860 O c. Revenue 1550 Cost of sales 800 O d. Revenue 1750 Cost of sales 910

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