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Slatter Corporation operates primarily in the United States However a few years ago it opened a plant in Spain to produce merchandise to sell there This foreign operation has been so successful

Slatter Corporation operates primarily in the United States. However, a few years ago, it opened a plant in Spain to produce merchandise to sell there. This foreign operation has been so successful that during the past 24 months the company started a manufacturing plant in Italy and another in Greece. Financial information for each of these facilities follows:


Slatter has adopted the following criteria for determining the materiality of an individual foreign country: (1) Sales to unaffiliated customers within a country are 10 percent or more of consolidated sales or (2) long-lived assets within a country are 10 percent or more of consolidated long-lived assets. Apply Slatter’s materiality tests to identify the countries to report separately.

Jul 21 2020 View more View Less

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