Business, 26.03.2020 05:27 nofer

1. A parent sells merchandise to its 90%-owned subsidiary at a markup of 20% on cost. The parent's beginning inventory includes $120,000 purchased from the subsidiary. The parent's ending inventory includes $156,000 purchased from the subsidiary. What is the impact of the above information on noncontrolling interest in net income, reported on the consolidated income statement for the year? A. No effect B. Subtract $3,000 C. Subtract $600 D. Subtract $6,000

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1. A parent sells merchandise to its 90%-owned subsidiary at a markup of 20% on cost. The parent's b...

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