Business, 29.05.2020 18:58 sierravick123owr441

James Corporation owns 80 percent of Carl Corporation's common stock. During October, Carl sold merchandise to James for $307,000. At December 31, 50 percent of this merchandise remains in James's inventory. Gross profit percentages were 35 percent for James and 45 percent for Carl. The amount of intra-entity gross profit in inventory at December 31 that should be eliminated in the consolidation process is

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James Corporation owns 80 percent of Carl Corporation's common stock. During October, Carl sold merc...