Question
Adora Inc. owns 30% of Alvah Co. and applies the equity method. During the current year, Adora bought inventory costing $66,000 and then sold it
Adora Inc. owns 30% of Alvah Co. and applies the equity method. During the current year, Adora bought inventory costing $66,000 and then sold it to Alvah for $120,000
At year-end, only $24,000 of merchandise was still being held by Alvah. What amount of intra-entity gross profit must be deferred by Adora?
| A. | $10,800. | |
| B. | $ 3,240. | |
| C. | $16,200. | |
| D. | $ 6,480. | |
| E. | $ 6,610. |
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Nmap Network Exploration And Security Auditing Cookbook
Authors: Paulino Calderon
2nd Revised Edition
1786467453, 978-1786467454
