On October $1$ st $2023$ Froto Sold the inventory to Bilbo for $$1,200,000$ cash. Froto uses the perpetual method for inventory

At the end of $2023$ Bilbo had not sold any of the inventory acquired from Froto

During $2024$ Bilbo sold $\frac{1}{2}$ of the inventory acquired from Froto for $$800,000$

During $2025$ Bilbo sold the rest of the inventory acquired from Froto for $$900,000.$

REQUIRED:

Make Froto's journal entry when they sell the merchandise to Bilbo $($Froto uses perpetual inventory$)$

Make Bilbo's journal entry when it buys the merchandise from Froto, Bilbo uses periodic inventory

make any necessary worksheet entried needed in $2023$ connected with the inventory

in $2023$ Bilbo reported $($unconsolidated$)$ inventory: $$2,000,000$ cost of goods sold $$5,000,000$ income $$3,000,000$ and Froto reported

inventory $$400,000$ cost of goods sold $$4,000,000$ income $$600,000$ What is consolidated a$)$ inventory b$)$ cost of goods sold c$)$ incom

make any worksheet entried needed $2024$

In $2024$ Bilbo reported $($unconsolidated$)$ inventory $$2,000,000$ cost of goods sold $$5,000,000$ income $$3,000,000$ and Froto reported

inventory $$400,000$ cost of goods sold $$4,000,000$ income $$600,000$ what is consolidated a$)$ inventory, b$)$ cost of goods sold c$)$ income

make any worksheet entries needed $2025$

in $2025$ Bilbo reported $($unconsolidated$)$ inventor $$2,000,000$ cost of goods sold $$5,000,000$ income $$3,000,000$ and Froto reported

inventory $$400,000$ cost of goods sold $$4,000,000$ income $$600,000$ what is consolidated a$)$ inventory, b$)$ cost of goods sold c$)$ income