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In an intra-entity inventory transaction, how should we consider the beginning unrealized gross profit when we calculate consolidated sales and consolidated cost of goods sold
In an intra-entity inventory transaction, how should we consider the beginning unrealized gross profit when we calculate consolidated sales and consolidated cost of goods sold (COGS), respectively? We should subtract it from consolidated COGS only. We should add it to consolidated COGS only. We should subtract it from both consolidated sales and consolidated COGS. Wo should add it to both consolidated sales and consolidated COGS.
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