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Compute the consolidated receivables and inventory for 2018

A)  $1,200.

B)  $1,515.

C)  $1,540.

D)  $1,800.

E)  $2,140.

Answer: C

Learning Objective: 02-05 

Learning Objective: 02-06a

Learning Objective: 02-07

Topic: Acquisition―Allocate fair value

Topic: Acquisition―Calculate consolidated balances

Difficulty: 1 Easy

Blooms: Apply

AACSB: Knowledge Application

AICPA: BB Critical Thinking

AICPA: FN Measurement

Feedback: $1,200 + $340 = $1,540

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Written by Homework Lance

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