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Please advise thank you CoursHeroTranscribedText: Klon Corporation owns 70 percent of Brant Company's...

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Accounting

Please advise thank you

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CoursHeroTranscribedText: Klon Corporation owns 70 percent of Brant Company's stock and 60 percent of Torkel Company's stock. During 20X8, Klon sold inventory purchased in 20X7 for $61,800 to Brant for $103,000. Brant then sold the inventory at its cost of $103,000 to Torkel. Prior to December 31, 20X8, Torkel sold $43,000 of inventory to a nonaffiliate for $73,000 and held $60,000 in inventory at December 31, 20X8

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