Question
The condensed separate and consolidated balance sheets of Alpha Corporation and its subsidiary, Bita Company, on the date of their business combination, includes inventories of
The condensed separate and consolidated balance sheets of Alpha Corporation and its subsidiary, Bita Company, on the date of their business combination, includes inventories of Alpha $150,000, inventories of Bita $120,000 and inventories consolidated $250,000. The fair value of Bita inventories is:
a.
$150,000.
b.
$100,000.
c.
$270,000.
d.
$120,000.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
