During 2020, a parent 'sold' inventory priced at $15000 to its subsidiary. The parent's cost of these goods was $8000. During the year, the subsidiary sold 80% of that inventory to outside customers for $26000. What amount should be reported in the 2020 consolidated balance sheet for ENDING INVENTORY? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000.

During 2020, a parent 'sold' inventory priced at $15000 to its subsidiary. The parent's cost of these goods was $8000. During the year, the subsidiary sold 80% of that inventory to outside customers for $26000. What amount should be reported in the 2020 consolidated balance sheet for ENDING INVENTORY? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000.

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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