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Class, let' s review this example. Barker Company owns 80 percent of the outstanding voting stock of Walden Company. During the current year, intercompany sales
Class, let' s review this example. Barker Company owns 80 percent of the outstanding voting stock of Walden Company. During the current year, intercompany sales amount to $100,000. These transactions were made with a markup equal to 40 percent of the transfer price. In consolidating the two companies, what amount of these sales would be eliminated?
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