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Stowe Company owns 80% of Teton Company. At the end of the most recent year, Stowe reported inventory of 500,000, and Teton reported inventory of
Stowe Company owns 80% of Teton Company. At the end of the most recent year, Stowe reported inventory of 500,000, and Teton reported inventory of 180,000. During the year, Stowe sold merchandise costing $150, 000 to Teton for $250,000. By the end of the year Teton sill possessed 40% of the merchandise. What is the amount of the consolidated inventory?
a. $640,000
b.$680,000
c.$644,000
d.$720,000
$630,000
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