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Determine Pam income from Sun

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Question - Sun Corporation, a 75 percent-owned subsidiary of Pam Corporation, sells inventory items to its parent at 125 percent of cost. Inventories of the two affiliates for 2016 are as follows:

 

Pam

Sun

Beginning inventory

$400,000

$250,000

Ending inventory

500,000

200,000

Pam's beginning and ending inventories include merchandise acquired from Sun of $150,000 and $200,000, respectively, which is sold in the following year. If Sun reports net income of $300,000 for 2016, determine Pam income from Sun?

Reference no: EM133113774

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