Section 1: Theory Problem 2: inventory Theory Consider the following Example - 1/1/xa P buys inventory from a third party vendor for 5 for $500,000. - Duringxt, P sells the inventory to Sfor $900,000 - During xt, 5 sells 60% of the inventory to a third party for $500,000. - During x, s sells the remaining 408 of the lnventory to a third party for $450,000. Please answer the following questions 1) What is the correct consolidated sales for 1 2) What if the correct consolidated cocs for x1 3) What is the correct consolidated inventory at 12/31/2 4) What is the correct consolidated sales for x2 ? 5) What is the DGP for x1 ? 6) Provided the two entries for x1 and the one entry for x2. Section 1: Theory Problem 2: inventory Theory Consider the following Example - 1/1/xa P buys inventory from a third party vendor for 5 for $500,000. - Duringxt, P sells the inventory to Sfor $900,000 - During xt, 5 sells 60% of the inventory to a third party for $500,000. - During x, s sells the remaining 408 of the lnventory to a third party for $450,000. Please answer the following questions 1) What is the correct consolidated sales for 1 2) What if the correct consolidated cocs for x1 3) What is the correct consolidated inventory at 12/31/2 4) What is the correct consolidated sales for x2 ? 5) What is the DGP for x1 ? 6) Provided the two entries for x1 and the one entry for x2