Question
The consolidating entry to eliminate deferred profit in ending inventory. A (dr) Merchandise inventory (cr) Cost of goods sold B (dr) Cost of goods sold
The consolidating entry to eliminate deferred profit in ending inventory.
| A | (dr) Merchandise inventory (cr) Cost of goods sold | |
| B | (dr) Cost of goods sold (cr) Merchandise inventory | |
| C | (dr) Equity income (cr) Merchandise inventory | |
| D | (dr) Equity investment (cr) Merchandise inventory |
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Financial Accounting Theory
Authors: Craig Deegan
2nd Edition
0077126734, 978-0077126735
