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7. PP Corp. owned 80% of KK Corp.'s common stock. During October 20x9, KK sold merchandise to PP for P140,000. At December 31, 20x9, 50%

7. PP Corp. owned 80% of KK Corp.'s common stock. During October 20x9, KK sold merchandise to PP for P140,000. At December 31, 20x9, 50% of this merchandise remained in Prince's inventory. For 20x9, g...

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