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Business, 19.10.2021 04:50 zacksoccer6937

Corgan sells inventory to Smashing using a 60 percent markup on cost. At the end of 2020 and 2021, 40 percent of the current year purchases remain in Smashing's inventory. Compute the equity method balance in Corgan's Investment in Smashing, Inc., account as of December 31, 2021. Prepare the worksheet adjustments for the December 31, 2021, consolidation of Corgan and Smashing.

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Corgan sells inventory to Smashing using a 60 percent markup on cost. At the end of 2020 and 2021, 4...
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