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Question - Co. X owns 90% of the voting stock of Co. Y. On December 15, 2019, the holding Co. sold goods that cost $120,000 to the subsidiary at a price of $200,000. During 2019, the subsidiary sold 60% of the goods and sold the rest during the year 2020. The subsidiary achieved $80,000 of net income in 2019 and $40,000 in 2020. What is the amount of ending inventory related to the above operation that will appear on the consolidated balance sheet for the year 2019?
A- $120,000
B- $72,000
C- $48,000
D- $80,000
In addition, the buyer assumed a mortgage of $150,000 on the house. Calculate Carlos amount realized and realized gain
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