REFERENCE: Ref.03_05 Perry Company Obtains 100% of the Stock of Hurley Corporation

Multiple Choice

REFERENCE: Ref.03_05
Perry Company obtains 100% of the stock of Hurley Corporation on January 1,2009,for $3,800 cash.As of that date Hurley has the following trial balance;
SHAPE \* MERGEFORMAT
Any excess of consideration transferred over fair value is considered goodwill with an indefinite life.FIFO inventory valuation method is used.
-Compute the amount of Hurley's inventory that would be reported on a January 1,2009,consolidated balance sheet.

A) $800.
B) $100.
C) $900.
D) $150.
E) $0.