Par Company regularly purchases inventory from Eagle Company. Recently, Par Company purchased a majority of the voting

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Par Company regularly purchases inventory from Eagle Company. Recently, Par Company purchased a majority of the voting shares of Eagle Company. How should Par Company treat inventory profits recorded by Eagle Company before the day of acquisition? Following the day of acquisition?
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Advanced Financial Accounting

ISBN: 978-0078025877

11th edition

Authors: Theodore E. Christensen, David M. Cottrell, Cassy JH Budd

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