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Business, 25.11.2021 05:30 fonsworth5

Corporation owns 80 percent of London Corporation's common stock. During October, London sold merchandise to Chang for $155,000. At December 31, 60 percent of this merchandise remains in Chang's inventory. Gross profit percentages were 30 percent for Chang and 40 percent for London. 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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Corporation owns 80 percent of London Corporation's common stock. During October, London sold mercha...
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