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Brooks Co. acquired 90% of Hill Inc. on January 3, 2021. During 2021, Brooks sold goods to Hill for $2,500,000 that cost Brooks $1,850,000. Hill

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Brooks Co. acquired 90% of Hill Inc. on January 3, 2021. During 2021, Brooks sold goods to Hill for $2,500,000 that cost Brooks $1,850,000. Hill still owned 30% of the goods at the end of the year. Cost of goods sold was $11,200,000 for Brooks and $6,600,000 for Hill. What amount of intra-entity gross profit should be deferred in 2021? Multiple Choice $585,000. $195,000. $0. $65,000. O $175,500

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