Planner Corporation owns $70$ percent of Schedule Company$$s voting shares. During $20$X$3,$ Planner produced $29,000$ computer desks at a cost of $$88$ each and sold $14,000$ of them to Schedule for $$100$ each. Schedule sold $9,000$ of the desks to unaffiliated companies for $$144$ each prior to December $31,20$X$3,$ and sold the remainder in early $20$X$4$ for $$154$ each. Both companies use perpetual inventory systems.

Required:

What amounts of cost of goods sold did Planner and Schedule record in $20$X$3?$

What amount of cost of goods sold must be reported in the consolidated income statement for $20$X$3?$

Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December $31,20$X$3,$ relating to the intercorporate sale of inventory.

Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December $31,20$X$4,$ relating to the intercorporate sale of inventory.

Prepare the worksheet consolidation entry or entries needed in preparing consolidated financial statements at December $31,20$X$4,$ relating to the intercorporate sale of inventory if the sales were upstream. Assume that Schedule produced the computer desks at a cost of $$88$ each and sold $14,000$ desks to Planner for $$100$ each in $20$X$3,$ with Planner selling $9,000$ desks to unaffiliated companies in $20$X$3$ and the remaining $5,000$ in $20$X$4.$