Assume Paris's Inventory Account Had a Book Value of $40,000

question 14

Multiple Choice

Assume Paris's inventory account had a book value of $40,000 and a fair value of $44,000 on January 1,2011.Using the parent company theory,what was the amount reported on the consolidated balance sheet for inventories on January 1,2011?

• A)$65,000
• B)$66,000
• C)$69,000
• D)$70,000