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What is the consolidated sales? What was the consolidated cost of sales? What was the non-controlling interest share of consolidated income? Problem 3 Intercompany Profit
What is the consolidated sales?
What was the consolidated cost of sales?
What was the non-controlling interest share of consolidated income?
Problem 3 Intercompany Profit Leslie Corp. owns a 90\% interest in Shaw Company, purchased at a time when the book values of Shaw's recorded assets and liabilities were equal to fair values. During 2014, Shaw sold merchandise to Leslie for $80,000 at a 40% gross profit. At December 31,2014,25% of this merchandise is still in Leslie's inventory. Separate incomes for Leslie and Shaw are summarized as followsStep by Step Solution
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