Solution-What amount of sales will be reported

What amount of sales will be reported

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Question - BB Company purchased 60 percent ownership of KK Corporation in 20x8. On May 10,20x9, KK purchased inventory from BB for P 60,000. KK sold all of the inventory to an unaffiliated company for P86,000 on November 10,20x9. BB produced the inventory sold to KK for P47,000. The companies had no other transaction during 20x9. What amount of sales will be reported in the 20x9 consolidated income statement?

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What amount of sales will be reported

Reference no: EM133161390

Reference no: EM133161390

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