_____ (Module 1) At 12/31/05, Pixco, which owns 60% of Sixco, reported intercompany acquired inventory of $18,000 in its balance sheet. Sixco's cost was $14,000. In 2007--two years later--this inventory was resold to outside third parties. Which entry is made in consolidation at 12/31/07?

Question

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The Answer of _____ (Module 1) At 12/31/05, Pixco, which owns 60% of Sixco, reported intercompany acquired inventory of $18,000 in its balance sheet. Sixco's cost was $14,000. In 2007--two years later--this inventory was resold to outside third parties. Which entry is made in consolidation at 12/31/07?

_____ (Module 1) at 12/31/05, Pixco, Which Owns 60% of Sixco