Explain why the adjustment for unrealized profit in ending inventories appears to increase cost of goods sold.

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Advanced Financial Accounting

ISBN: 978-0137030385

6th edition

Authors: Thomas Beechy, Umashanker Trivedi, Kenneth MacAulay

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Question Posted: Mar 13, 2015 07:50 AM

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Explain why the adjustment for unrealized profit in ending inventories appears to increase cost of goods sold.

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When intercompany sales are eliminated in consolidation the full ...View the full answer

Advanced Financial Accounting

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