_____ in 2006, Puzco Resold for $70,000 Inventory That It

Multiple Choice

_____ In 2006, Puzco resold for $70,000 inventory that it had acquired from its 100%-owned subsidiary, Suzco, in 2005 for $50,000. Suzco's cost was $36,000. In consolidation at the end of 2006, which of the following accounts is credited on the worksheet?

A) Intercompany Cost of Sales.
B) Equity in Net Income of Subsidiary.
C) Intercompany Sales.
D) Inventory.
E) None of the above.