Starting from the separate inventory balances of the affiliates, the consolidated inventory balance will be affected by all of the following, except: a.Unrealized profit on ending inventory b.Amortization of the excess of inventory FV over BV of the subsidiary at the date of acquisition c.Realized profit on beginning inventory d.Excess of inventory FV over BV of the subsidiary at the date of acquisition
Starting from the separate inventory balances of the affiliates, the consolidated inventory balance will be affected by all of the following, except: a.Unrealized profit on ending inventory b.Amortization of the excess of inventory FV over BV of the subsidiary at the date of acquisition c.Realized profit on beginning inventory d.Excess of inventory FV over BV of the subsidiary at the date of acquisition
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter6: Audit Evidence
Section: Chapter Questions
Problem 15CYBK
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Question
Starting from the separate inventory balances of the affiliates, the consolidated
inventory balance will be affected
by all of the following, except:
a.Unrealized profit on ending inventory
b.Amortization of the excess of inventory FV over BV of the subsidiary at the date of
acquisition
c.Realized profit on beginning inventory
d.Excess of inventory FV over BV of the subsidiary at the date of acquisition
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