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Player Company acquired 60 percent ownership of Scout Company's voting shares on January 1,20x2. During...

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Accounting

Player Company acquired 60 percent ownership of Scout Company's voting shares on January 1,20x2. During 20X5, Player purchased inventory for $23,000 and sold the full amount to Scout Company for $33,000. On December 31,205, Scout's ending Inventory included $6,600 of items purchased from Player. Also in 205, Scout purchased inventory for $68,000 and sold the units to Player for $98,000. Player included $24,500 of its purchase from Scout in ending inventory on December 31,205.
Summary income statement data for the two companies revealed the following:
\table[[Sales,\table[[Player Company],[$387,200
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