Please do not give solution in image format thanku 1 (show answer step by step but don't write with a pen)Alpha Company owns 80 percent of the voting stock of Beta Company. Alpha and Beta reported the following account informationfrom their year-end separate financial records:Alpha Beta$95,000 $88,000800,000 300,000Cost of Goods Sold 600,000 180,000InventorySales RevenueDuring the current year, Alpha sold inventory to Beta for $100,000. As of year end, Beta had resold only 60 percent of these intra-entitypurchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers.What is the total for consolidated inventory?Multiple Choice• $143,000$173,000$175,000$183,000...

While doing consolidation, unrealised profit is required to be eliminated.Alpha's sales revenue =…

1 (show answer step by step but don't write with a pen) Alpha Company owns 80 percent of the voting stock of Beta Company. Alpha and Beta reported the following account information from their year-end separate financial records: Alpha Beta $95,000 $88,000 Inventory Sales Revenue Cost of Goods Sold 600,000 180,000 800,000 300,000 During the current year, Alpha sold inventory to Beta for $100,000. As of year end, Beta had resold only 60 percent of these intra-entity purchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers. What is the total for consolidated inventory? Multiple Choice • $143,000 • $173,000 • $175,000 $183,000

1 (show answer step by step but don't write with a pen) Alpha Company owns 80 percent of the voting stock of Beta Company. Alpha and Beta reported the following account information from their year-end separate financial records: Alpha Beta $95,000 $88,000 Inventory Sales Revenue Cost of Goods Sold 600,000 180,000 800,000 300,000 During the current year, Alpha sold inventory to Beta for $100,000. As of year end, Beta had resold only 60 percent of these intra-entity purchases. Alpha sells inventory to Beta at the same markup it uses for all of its customers. What is the total for consolidated inventory? Multiple Choice • $143,000 • $173,000 • $175,000 $183,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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