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Consolidation fair value of inventory.

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Consolidation fair value of inventory.

  • This topic has 0 replies, 2 voices, and was last updated 4 years ago by Nadir2020.
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  • July 5, 2020 at 10:37 am #576044
    pradeesh1995
    Member
    • Topics: 2
    • Replies: 8
    • ☆

    Hi.
    Im a bit confused here.
    At the date of aquisition Subsidiary’s inventorys book value and fair value were $3 million and $3.6 m respectively.At the reporting date 10% of inventory was not sold.
    The answer from bpp book guides to deduct 540000(representing inventory sold post aquisition) from post aquisition retained earning. Can anyone explain me the logic or mechanism behind this.

    Thanks in advance.

    November 9, 2020 at 8:17 am #594474
    Nadir2020
    Member
    • Topics: 0
    • Replies: 1
    • ☆

    pradeesh1995 wrote:Hi.
    Im a bit confused here.<br>At the date of aquisition Subsidiary’s inventorys book value and fair value were $3 million and $3.6 m respectively.At the reporting date 10% of inventory was not sold.<br>The answer from bpp book guides to deduct 540000(representing inventory sold post aquisition) from post aquisition retained earning. Can anyone explain me the logic or mechanism behind this.

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