i need help for homework  PAR sold inventory with a cost of $70,000 to its 90%-owned subsidiary, SUB, for $100,000 in 2016. SUB resold $80,000 of this inventory for $120,000 in 2016. Based on this information, the amount of inventory reported on the consolidated financial statements at the end of 2016 is: a. $40,000. b. $6,000. c. $20,000. d. $14,000.

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.