SCAQ Foundation AFF Practice Questions - SCAQ Foundation Advanced Financial Reporting Examination Exam

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Parent sold goods to its 80%-owned subsidiary for $100,000 at a mark-up of 25% on cost. At year-end, 40% of these goods remain in the subsidiary's inventory. What is the unrealized profit adjustment required on consolidation?

$$8,000 deduction from inventory $$10,000 deduction from inventory $$16,000 deduction from inventory $$20,000 deduction from inventory

Correct Answer:

$$8,000 deduction from inventory

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