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Enya Co has a wholly owned subsidiary, Faluda Co. On 31 December 20X8 inventories shown in the statement of financial positions of these companies were:
During the year, Enya Co had purchased $220,000 of items from Faluda Co at a markup of 25%. On 31 December 20X8 half of these items were in inventory. In the consolidated accounts of Enya Co on 31 December 20X8 inventory will be shown as: $ ________ |