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Tower Inc. owns 30% of Yale Co. and applies the eq...

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Tower Inc. owns 30% of Yale Co. and applies the equity method. During the current year, Tower bought inventory costing $66,000 and then sold it to Yale for $120,000. At year-end, only $24,000 of merchandise was still being held by Yale. What amount of intra-entity inventory profit must be deferred by Tower? A. $6,480. B. $3,240.(correct) C. $10,800. D. $16,200. E. $6,610. I dont know how to solve it.,thank you,thank you

 

Paper#12624 | Written in 18-Jul-2015

Price : $25
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