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Question 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

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Question 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 of $160,000 and fornul installments of $100.000 de euch April 1, beginning April 7, 2017. Each installment will also include interest on the unpaid balance applying an appropriate interese. The inventory cost Toy $180,000. The company is perpetual inventory system How much is the realized gross profit in 2016 applying the profit deferal method cost recovery method)

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