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During 20x4, Clark Company purchased raw materials totaling $240,000 from Kent Corporation, a wholly owned subsidiary. Kent's gross profit on the sales was $48,000. Clark

During 20x4, Clark Company purchased raw materials totaling $240,000 from Kent Corporation, a wholly owned subsidiary. Kent's gross profit on the sales was $48,000. Clark had $60,000 of this inventory remaining on December 31, 20x4.

How much unrealized profit still exists on December 31, 20x4 related to this transaction?

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