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P. fer Company acquired 90 percent ownership of 5 crooge Corperation in 207, at underlying bock value. On that date, the fair value of noncontrolling
P. fer Company acquired 90 percent ownership of 5 crooge Corperation in 207, at underlying bock value. On that date, the fair value of noncontrolling interest was equal to 10 percent of the book value of Scrooge Corporation. Pilfer purchased imventory from Scrooge for $90,000 on August 20 . 20X.8, and resold 70 percent of the inventory to unaffisated companies on December 1, 20X8, for \$100,000. Scrooge produced the inventory sold to Pilfer for $67,000, The companies had no other transactions durine 20x8. Based on the information given above, what amount of cost of goods sold will be reported in the 208 consolidated income statement? $67,000 $46,900 $90,000 $60,900
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