文档介绍：panyInventoryTransactions7McGraw-Hill/Irwin©2009TheMcGraw-panies,,paniesGeneralOverviewTheeliminationsensurethatonlythecostoftheinventorytotheconsolidatedentityisincludedintheconsolidatedbalancesheetwhentheinventoryisstillonhandandischargedtocostofgoodssoldintheperiodtheinventoryisresoldtononaffiliatesGeneralOverviewTransfersatcostThebalancesheetinventoryamountsattheendoftheperiodrequirenoadjustmentforconsolidationbecausethepurchasingaffiliate’sinventorycarryingamountisthesameasthecosttothetransferringaffiliateandtheconsolidatedentityWheninventoryisresoldtoanonaffiliate,ountsin:estatement:SalesandcostofgoodssoldConsolidatedbalancesheet:paniesand,therefore,slightlydifferentworkpapereliminatingentriesinpreparingconsolidatedfinancialstatementsDownstreamSaleofInventoryForconsolidationpurposes,profitsrecordedonanintercorporateinventorysalearerecognizedintheperiodinwhichtheinventoryisresoldtoanunrelatedpartyUntilthepointofresale,panysellsaninventoryitemtoanaffiliate,oneofthreesituationsresults:TheitemisresoldtoanonaffiliateduringthesameperiodTheitemisresoldtoanonaffiliateduringthenextperiodTheitemisheldfortwoormoreperiodsbythepurchasingaffiliateDownstreamSaleofInventory-monstockofSpecialFoodsonDecember31,20X0,foritsbookvalueof$240,$60,,20X1,Peerlessbuysinventoryfor$7,000andresellsittoSpecialFoodsfor$10,000onApril1.