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At what amount should the inventory remaining in company

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Question - Companies A, B and C are all part of the one economic entity, but all these are separate legal entities and are required to prepare their own financial statements.

Company A sold Company B inventory that cost $56 000 for $78 000.

At the end of the same period Company B has three-quarters of that inventory still on hand and the rest has been sold to an entity outside the economic group.

At what amount should the inventory remaining in Company B be presented in Company B's own financial statements?

$42 000

$58 500

$56 000

$14 625

Reference no: EM132565274

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