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Business, 04.04.2020 06:05 hannahliebl2000

Perez Inc. owns 80 percent of Senior Inc. During 20X2, Perez sold goods with a 40 percent gross profit to Senior. Senior sold all of these goods in 20X2. For 20X2 consolidated financial statements, how should the summation of Perez and Senior income statement items be adjusted?

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Perez Inc. owns 80 percent of Senior Inc. During 20X2, Perez sold goods with a 40 percent gross prof...
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