ACCT$450-$ CHAPTER $6$ IN$-$CLASS EXERCISE

Piper Corporation acquired $70$ percent of Scorpio Corporation's voting stock on May $18,2011.$ The companies reported the following data with respect to intercompany sales in $2014$ and $2015$;

$\backslash$table$[[$Year$,$Purchased by$,$Purchase Price,Sold to$,$Sale Price,$\backslash$table$[[$Unsold at End of$],[$Year$]],\backslash$table$[[$Year Sold to$],[$Unaffillated Company$]]],[2014,\backslash$table$[[$Scorpio$],[$Corporation$]],$$$120,000,\backslash$table$[[$Piper$],[$Corporation$]],$$$180,000,$$$45,000,2015],[2015,\backslash$table$[[$Scorpio$],[$Corporation$]],90,000,\backslash$table$[[$Piper$],[$Corporation$]],135,000,30,000,2016-$