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Business, 04.04.2020 10:41 cocoabean1981

Rome Inc. owns 30% of Amber Co. and applies the equity method. During the current year, Rome bought inventory costing $66,000 and then sold it to Amber for $120,000. At year-end, only $24,000 of merchandise was still being held by Amber. What amount of intercompany inventory profit must be deferred by Rome

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Rome Inc. owns 30% of Amber Co. and applies the equity method. During the current year, Rome bought...
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