-Use the data provided after the trial balance in the paragraph in the book.

-Complete the tables for each inventory transaction and the consolidation entries for the x7 and the x8 inventory transaction

Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter Summarized trial balance data for the two companies as of December 31. 20X8. are as follows Plug Products Debit Spark Filter Company Debit $90,000 110,000 180,000 Credit Credit Cash and Accounts Receivable Inventory Buildings & Equipment (net) Investment in Spark Filter Company Cost of Goods Sold Depreciation Expense Current Liabilities Common Stock Retained Earnings Sales Income from Spark Filter Company Total S 145,000 220,000 270,000 268,000 175,000 30,000 140,000 20,000 S 150,000 200,000 472.000 250.000 36,000 S1,108,000 1,108,000 30,000 90,000 220,000 200,000 $540,000 $540,000 On January 1, 20X8, Plug's inventory contained filters purchased for $60,000 from Spark Filter, which had produced the filters for $40,000. In 20X8, Spark Filter spent $100,000 to produce additional filters, which it sold to Plug for $150,000. By December 31, 20X8, Plug had sold all filters that had been on hand January 1. 20X8. but continued to hold in inventory $45,000 of the 20X8 purchase from Spark Filter