Everest acquired assets and liabilities of Cola for Cola 's book value at the balance sheet date, At that date, Everest's inventory had a book value and market value of P65,000 and P80,000, respectively while Cola's inventory had a book and market value of P25,000 and P25,000, respectively. What amount of inventory would appear on the balance sheet? (do not use comma on the answer, Follow this format: P1 250 000)
Everest acquired assets and liabilities of Cola for Cola 's book value at the balance sheet date, At that date, Everest's inventory had a book value and market value of P65,000 and P80,000, respectively while Cola's inventory had a book and market value of P25,000 and P25,000, respectively. What amount of inventory would appear on the balance sheet? (do not use comma on the answer, Follow this format: P1 250 000)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Everest acquired assets and liabilities of Cola for Cola's book value at the balance sheet
date. At that date, Everest's inventory had a book value and market value of P65,000 and
P80,000, respectively while Cola's inventory had a book and market value of P25,000 and
P25,000, respectively.
What amount of inventory would appear on the balance sheet?
(do not use comma on the answer. Follow this format: P1250 000)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe0ec838c-393a-4142-8457-d669805d28c7%2Fa3694744-ab7b-4b87-aab2-458d0d0cd2d2%2F1pqs718_processed.png&w=3840&q=75)
Transcribed Image Text:Everest acquired assets and liabilities of Cola for Cola's book value at the balance sheet
date. At that date, Everest's inventory had a book value and market value of P65,000 and
P80,000, respectively while Cola's inventory had a book and market value of P25,000 and
P25,000, respectively.
What amount of inventory would appear on the balance sheet?
(do not use comma on the answer. Follow this format: P1250 000)
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