INTERCOMPANY PROFIT IN INVENTORIES

Tiger Company acquired 95% interest from Cat Company on January 2, 2016. The inventories acquired
from the affiliate in 2015 is:

Beginning inventory P 337, 500

Intercompany sale of merchandise during the year amounts to P 1,350,000 at a gross profit of 30%.
50% of the intercompany sale in 2016 is still in the hands of the buyer.
In 2016 the net income and additional information of both companies were:

Tiger Company Cat Company

Net Income 3,375,000.00 2,025,000.00
Dividends 1,350,000.00 675,000.00
Sales 9,300,000.00 5,100,000.00
Cost of sales 4,350,000.00 2,670,000.00
Ending Inventory 920,000.00 840,000.00

Required: Assuming Downstream and Upstream Sale. On December 31, 2016

 Compute the NCINIS

 Compute the Consolidated Net Income
 Consolidated Sales
 Consolidated Cost of Sales
 Consolidated Ending Inventory