On April 7, 2016, the Toy Corporation sold inventory to the Penny Corporation for $800,000, terms of the sale called for a down payment or $160,000 and four annual installments of S160,000 due cach April, beginning April 7, 2017. Each installment will also include interest on the unpaid balance applying an appropriate interest rate. The inventory cont Toy $180,000. The company mesa perpetual Inventory system How much is the realized gross pratitin 2016 applying the profit deferral method (cost recovery method On April 7, 2016, the Toy Corporation sold ventory to the Peony Corporation for 5600,000, terms of the sale called for a down payment of S120.000 and four al installments of 5120,000 due each April 1, beginnin April 7, 2017 Each installment will also include interest on the unpaid balance applying an appropriate interest rate. The inventory cost Toy $180,000. The company wies a perpetual inventory system. How much is the realized gross profitin 2017 pplying the profit defend cost recovery mothed