Reference no: EM132479028
Point 1: Pop is Parent/Soda Subsidiary 70% - "On Dec 31, 20X2, Soda purchased inventory for $31,500 and sold to Pop for $45,000. Pop resold $30,000 of the inventory (i.e. $30,000 of the $45,000 acquired from Soda) during 20X3 and had remaining balance in inventory at Dec 31, 20X3.
Point 2: During 20X3, Soda sold inventory purchased for $56,000 to Pop for $80,000, and Pop resold all but $25,000 of it's purchase. On, March 10, 20X3 Pop sold inventory purchased for $15,000 to Soda for $30,000. Soda sold all but $7,800 of the inventory prior to Dec 31, 20X3. Fully adjusted equity method."
Question 1: Identified upstream vs downstream for the 70% unrealized profit and 30% NCI unrealized
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