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What is the amount of ending inventory

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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

Reference no: EM133000668

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